The market’s relentless advance finally took a breather as we are down about 1.5% from Friday’s high in the S&P 500 (SPY). In total, the stock markets are up 7.5% from mid-October. Even though some profit-taking can be healthy and normal, I am still bullish about the market for the future. In fact, I’m noticing a steady drumbeat of negative economic news which is providing even more fuel for the stock market’s ascent. In today’s commentary, I want to discuss this strange dynamic, give some quick thoughts on energy and provide an update to earnings season as it comes to a close. Read on below to find out more….You can enjoy the updated version of my weekly comments published November 11th, 2021 in the POWR stocks under $10 newsletter.

Over the last week, the S&P 500 is down by about 0.25%, while the is up 0.5%. This seems to be a healthy pause in the greater advance, as we have already discussed.

It is unlikely that there is evidence of institutional or distribution selling.

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