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Near Term Mkt Profit-Taking Possible; AMZN Looks Attractive

December 27, 2019
Near Term Mkt Profit-Taking Possible; AMZN Looks Attractive

In the midst of the general good holiday cheer, I’m the Grinch. I have to admit I expect a temporary near-term pullback. Temporary remember.

As the S&P 500 index impressively trends to new highs almost each day heading into year-end, a pullback appears likely from a technical perspective. In early December, I expected the SPX to trend toward 3300 by mid-February but with it near 3240 already, some profit taking sooner than later is likely.

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