Bull market for stocks.
Globe editors have posted this research report with permission of Phases & Cycles Inc. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following is excerpted from the report:
Our view is that the markets will continue to consolidate for a little longer, with a slightly more positive bias in New York than in Toronto. Despite the nervousness amongst some bulls and the resoluteness of the bears, this bull market is not on the ropes and is certainly not anywhere near being down for the count.
The markets may not go up immediately, but the balance of the evidence is that the next major move will be higher and that we will see visible up-legs in both New York and Toronto.
Any weakness in May, provided major support levels are not violated, should be viewed as a buying opportunity.
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