The Bull Market Lives

by JDH on August 12, 2017

Last week I pondered the question: Will Amazon Predict the Market Top?  Presumably if AMZN, a high flyer this year, gets into trouble, that could be it for the market.  This week Amazon touched $996, but couldn’t break through the $1,000 level, and by Friday traded as low, intra-day, as $951.38.

That’s not a great recipe for a continuation of the bull market.

However, Amazon did touch $930 back on June 9, so this is not yet an epic collapse.  Time will tell.

Apple, on the other hand, is looking great, hitting a new high in the $160 range earlier this month before correcting slightly. If I was a betting man, I would bet on a new high for Apple before the end of the month.

But, I’m not a betting man, and at these levels I have no desire to be the last man standing in a game of financial musical chairs, so I will watch from the sidelines.

Plus, it’s summer, so enjoy it.

If anything happens to change this vague analysis, I will report back next week.