Lord knows the month's macro data has been #$%$. But where is all the bullish sentiment? This has been the most hated rally i've ever seen, and yet the fed keeps easing and huge amounts of extra capital are floating around chasing a limited quantity of product. Japan just instituted a policy of unprecedented monetary easing. Now Europe may be in the process of easing, and China is still stimulating its' favorite sectors.
So I ask again, correction coming? I agree it seems overdue, and i do believe in many ways the situation we're in is quite unique historically, but they generally don't come when everyone and their mother is expecting them.
One down day on May 1st does not a correction make. Not yet anyway.
your statement "the situation we're in is quite unique historically" is very true. I do not think any past era can compare to the one we're in. So as to what comes next, it could go either way, or we could just plateau at this elevated level for the Dow Jones averages for an extended period of time.
You guys are both knuckleheads....WE ARE COMING OUT OF RECESSION and HAVE BEEN since 2009....!!!! Stocks look ahead...corporate profits (which DRIVE the stock markets) are AT AN ALL-TIME HIGH...!!!!! Stop listening to chowderheads such as Muriel (sp) Roubini (who - BTW - LIKES stocks now for the next two years) and stop worrying about when a correction is coming...it'll only correct & go higher anyway as housing continues to recover, etc....