The Rally Is A Possible Bear Trap
In hisDaily Market Notes report to investors, while commenting on a possible bear trap, Louis Navellier wrote: Q4 2021 hedge fund letters, conferences and more Risk-On RotationThe market is moving sideways, digesting recent gains. The S&P has now risen 11% since March 15th, up 9 of the last 11 days. Interestingly, it has closed at or near the highs for day 9 of the last 11 days. We’ve seen a risk-on rotation with consumer discretionary up 17%, and technology up 16%, highlighted by ARK Innovation (NYMARKET:ARKK), a more aggressive take on new tech companies, up 33%. More conservative sectors su...