credit markets

A Wobbly Rally

I.C. Angles Investment Post…

At the end of October the stock market put in a double-bottom from the sell off that began in August, and has since managed to reclaim most of its lost ground. Although not yet able to challenge the market highs, the S&P 500 index is back to the sideways channel established over most of the year. But this is hardly reason to celebrate. The rally may have made up most of the lost ground from a terrible August, but this has been a very ugly rally that gives a lot of reason for concern about the future prospects of a stock market that is looking increasingly wobbly.