by Lance Roberts
Real Investment Advice
Over the last several weeks, I have discussed the markets entrance into the “Seasonally Weak” period of the year and the breakout of the market above the downtrend line that began last year.
The rally from the February lows, driven by a tremendous amount of short covering, once again ignited “bullish optimism.”
“Canaccord Genuity’s Tony Dwyer estimates the equity benchmark will end 2017 at 2,340, an increase of 15 percent from Wednesday’s closing level of 2,047.63, with half of the gains coming this year.”
But it is not just Tony that is buying into the “optimistic” story, but investors also as the number of stocks on “bullish buy signals” has exploded since the February lows.