Equity markets struggled this week with the S&P 500 opening at 3,803.14 on Monday morning and closing 3,768.25 on Friday afternoon. The doldrums may partially reflect the fact that Initial Jobless Claims posted their biggest weekly gain since the pandemic hit markets in March. For those of you with short positions, we wouldn’t get too excited. While a healthy pullback and chop are expected by all three of our research departments, we also expect that this will be shallow and short. For long-term investors, the predicted pullback can be a good opportunity to lower your cost basis. Coincidentally, our research team also looked into the performance of the market by day of the week. The general message we found is that it can be a bad idea to over-react to Monday’s market action, which has been anomalously bad as of late.

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We’ll address the chatter this week that came up about the Fed tightening earlier than expected. Hint, we still don’t think you’ll see a rate rise or the tapering of asset purchases anytime soon. There are signals all over the economy of an impending economic boom the likes of which may not have been seen in the twenty-first century. Semi-conductor producers, which are usually considered an ultra-cyclical indicator, are having trouble keeping u...

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