I.C. Angles Investment Post…

The stock market continues to move higher, and there is no reason to bet otherwise, as long as it continues to hold support at its 125-day simple moving average. On the other hand, given underlying fundamentals, including increasingly expensive valuations, hedging your bets a bit, holding some cash and preparing for when key support fails is also a smart move. In other words, my basic outlook remains unchanged, while this bull market and economic recovery both get longer in the tooth and statistically more likely to end, as stocks keep rising.

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