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Sometimes, trying to decipher the stock market’s signals
is easy. Like during the rally out of the March 2009 lows. It was clear
that stocks were ready for a strong move higher.
Sometimes, it’s more difficult to get a handle on the
subtle shifts in sentiment that drive stock prices. The correction in
January of this year is one such example.
Other times, it’s darn near impossible to read the tea
leaves. I’d say now is one of those times. The stock market is giving off
mixed signals. And that’s because, at the most fundamental level, the
economic picture is mixed. For every bullish point investors can make,
there’s an equally valid bearish counterpoint.
At the end of the day, we need more data and more time
to reach any solid conclusion about the way the markets been acting
lately.
Consider the
fed’s statement today. The phrase from the FOMC statement that
“