Are there many reasons for the overall market to go higher?
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Other than the resolution of U.S. and China trade concerns, there don’t seem to be a lot of good reasons for the stock market to rise as a whole.
Back in March, traders were discussing “the most anticipated selloff of all time” as trade, political, and monetary fears were sending the market down off its highs.
Concurrently, traders were gearing up for a meteoric advance in prices as earnings came in strong.
Judging by the price action, these two theories are in vigorous, directly opposed but equal competition with each other, and as a result we can see the QQQ trading in a volatile stalemate.
Indeed, most earnings are coming in very strong, but with undertones of lackluster guidance. Guidance aside, market wisdom dictates that good reasons are needed for prices to climb (traders\investors often need good reasons to buy), but prices can fall on their own account.
Are there many reasons for the indices to head higher?
Are there many reasons for the indices not to fall? As uncertainty continues, traders are considering downside protection with puts or short positions on the market, even as upside bets are being made on certain stocks and sectors.
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