This week we saw a pull-back, as the market got jittery on rising yield rates, and as profit-taking set in when the market was not able to make a new high. We see a bounce on the cards for next week and retain a bullish outlook beyond that.
During this months FOMC the Fed stated that it sees stronger economy & higher inflation, but no rate hikes. There are signs the market is more comfortable with the 10-year yield, howwever, we are not out of the woods yet.
Some are concerned that the market is in the first stage of a crash. While further downside is not off the table, we feel that it's more likely the result of profit-taking combined uncertain retail traders adding to volatility.