Investors will continue to ride the speediest rally in U.S. stocks since the Great Depression despite growing concerns that the market is overbought and due for a correction.
Wall Street posted its third consecutive week of gains with the S&P 500 now up 6.8 percent for the year and more than 20 percent in just six months
Regardless of where the stocks start off in the morning, they crawl upwards by afternoon. Analysts expect a correction but they aren’t sure when. There seems to be a tendency for more and more investors to buy.
But there is a perceptible level of anxiety in the market. Trading volume has been exceptionally low recently and the CBOE Volatility Index .VIX, Wall Street’s so-called fear gauge, is up on the week despite the gains in stocks.
So what does all this mean? Are lots of people buying now? What is spurring this buying spree? I sure hope we aren’t headed for another downturn.
