It’s a new year, and the question everyone has on their mind is whether this is the year the market will finally recover. No one quite knows, but I do know this, that a majority of “Market Experts” believe that the S&P will finish up between 10% and 20%. What this means, is that the market WILL NOT finish the year up 10% – 20%.
Assuming my hypothesis to be correct (and it is!), the market will either rally big (greater than 20%) or it will not rally at all (0% – 9% would be flat while anything less, would be more misery on top of last year’s investor nightmare).
Despite the market finishing down today in only the second day of trading on the year, we managed to close out our position in MYGN for a 15% gain overall (up 6% today). We still have a couple of stocks in our portfolio, and will look to add more in the days and weeks ahead, so make a New Year’s Resolution to be on the RIGHT SIDE of the market this year by Subscribing to Shareplanner Today.
Also, worth noting is that volume was higher today mainly due to your Wall Street Vacationers finally coming back to work. Though the volume was higher today than in any day last week, it still was below average compared to recent trading days, and should be a positive sign for the bulls who want to build on last week’s gains.
The best thing that this market can do for itself right now, is to put together a solid week of gains, and get some of the cash off of the sidelines and into play.
Here’s the Nasdaq and S&P charts…