The data that Bespoke puts together at times may seem pretty simple but when taken in the correct context can have quite a bit of meaning. I suppose that this is one reason why I feature their analysis so much on the DWCM site. Take for instance the chart below. My takeaway is that there is no clear cut takeaway. Take the first quarter for the NASDAQ or just about any major stock index for what it was, a good/great quarter because the rest of the year is up in the air.
What has worked so far this year may not work for the rest of the year. We still have not seen a significant pullback from the run we have been on since last October. As the anticipation builds most see any pullback or dip we may incur to be a buying opportunity. While that may be the case as we could consolidate and then move higher I think it is best to take a conservative approach and not jump into the deep end of the pool just yet.
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| Chart courtesy of Bespoke |
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