Is the bull market winding down? Most people seem to think that is inevitable after such a long run. However, there are some contending the bull market could go on for years. The argument comes from Ciovacco Capital Management, which contends that by analyzing historical charts, the stock market looks poised for another breakout out, especially considering the Brexit deal, the US-China “phase one deal”, and the generally buoyant mood on Wall Street. Ciovacco says worries about China have been the biggest drag on performance, but that a lot of progress has been made, and one more piece of good news, such as the delay of December tariffs, could spark a big run by igniting “animal spirits”.
FINSUM: This is obviously highly speculative. However, it is a decent 30,000 foot view of where the market stands right now.