Art’s biggest concern looking ahead seems to be the elevated profit margins that may be unsustainable.
Some of the Market angst experienced recently was due to Fed Chair, Jane Yellen’s statement that rates would rise 6-months after QE ends. The above is walking back the rate rise and was seen as good news for the markets.
…Shiller should know better than to make such statements. I propose a $5,000 bet with Robert Shiller right now, donated to our favorite charity that he is wrong.” Mish Shedlock. Commentary at... http://globaleconomicanalysis.blogspot.com/2014/04/shiller-drinks-kool-aid.html
Wednesday, the S&P 500 was up about 1.1% to 1872 (rounded).
VIX was down about 8% to 13.77 (at 4:05 PM).
The yield on the 10-year Treasury Note moved up slightly to 2.69%.
I increased my stock allocation to 50% invested in stocks on 26 March because of the NTSM indicators turned positive Monday (24 Mar) at the close. Further the 5-10-20 Timer was positive along with market internals on 26 March as they are today, 28 March. 50% is fully invested for me at this time.