There have been new blahs from the U.S. stock markets after the big rally that helped Wall Street elude its first bear market since the 2008 financial crisis.
It shows like a fading moment now from the bullish optimism and positive momentum that powered more that 13% higher since the mid-February. Now happening is the emerging caution and skepticism. Stocks have stopped going up, and have finished lower three of the past four sessions. It is showing that the market is getting really exhausted. The risk-off mentality is now in the scene. According to the Wall Street pros, the upside for stocks from the current levels could be limited due to nagging headwinds.
The chief investment officer at Commonwealth Financial Network highlighted that it’s like the market is now carrying a fifty-pound sack of sand on its shoulders. “It can still get up the stairs, but it’s not running as fast as before.” he added.