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Bob’s Stock Market Weather Forecast Newsletter 3/5/17 – bobsstocks.com

The stock market has been on a historic run. At the end of last year most Wall Street strategist predicted 2017 would be a flat to slightly up year. That still could happen of course, as it is only March. But the behavior of the market and its internal readings point to higher prices ahead. Since the election the stock market is up about 15%. This is a historic run in itself. John Kennedy had a run of about 13% after he was elected. All the US indexes are setting new all time simultaneous highs at the same time, something that has not happened since the 1990s. The Dow cut though 20,000 like a hot knife going though butter and it set new highs for 13 sessions in a row, something that hasn’t happened since 1870! I could go on but you get the point. Happily the MM was rising into the fall and all of our strategies have been 100% invested except when stops were triggered in two Strategy 3 positions.

Last summer when the MM started a slow rise, I suggested good news might be ahead. Economic statistics are positive but there continues to be a slow growth scenario in effect. It is said the stock market is predictive of the future and 3 to 6 months is often cited as the time frame. If the recent rise is forecasting an economic uptrend, we should see it no later than next fall or winter.

The S&P 500 reached 2401 this week meeting the 2400 target forecast.  To read more click here