Morning Comment: Wil the end of the quarter bring an end to some artificial demand for stocks?
As we move from the first quarter into the second quarter, the stock market stands at a key juncture. It has broken an important resistance level, but it needs to hold above that level. There is no guarantee that this rally will indeed "hold"....because two key issues that has provided some extra "artificial demand" in recent weeks could/should fade going forward. When you combine this with the reality of what's really going on in Eastern Europe and the fundamental backdrop we face today, the odds are higher than most people realize that the current rally is running on fumes.
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Matthew J. Maley
Chief Market Strategist
Miller Tabak + Co., LLC
Founder, The Maley Report
275 Grove St. Suite 2-400
Newton, MA 02466
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