Switzer on Saturday

That overdue pullback looks about due!

Founder and Publisher of the Switzer Report
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Friday Close
Change
Change %
Week Change %
Dow Jones
20,821.76
11.44
0.05%
0.96%
S&P 500
2,367.34
3.53
0.15%
0.69%
NASDAQ
5,845.31
9.80
0.17%
0.12%
ASX 200
5,739.00
-45.70
-0.79%
-1.15%
Data for week commencing 20 February

We’re now in testing time for the Trump rally, with the likes of US academic economist, Robert Shiller, saying “with valuations so high, it’s time to reduce holdings.” Meanwhile, AMP Capital’s Shane Oliver, who this week on my TV show signed up for the “stocks to keep going higher this year” club, of which I’m the self-appointed president, also argued the case for a pullback.

“While shares have generally continued to push higher, they remain at risk of a short term correction being technically overbought again,” he wrote on Friday. He also threw in another reason for a sell off: “with short term investor sentiment at levels often associated with corrections.”