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We have heard that stocks actually can trade down as well....

The Market Ear Picture

The equity world is wonderful right now, but sometimes even winners need to pause. We do believe equities will be lower over the next few weeks. Miss Market might even teach us a masterclass in humility. Here are the reasons why.

Has Wall Street become a one-way street?

Yes, we admit that we have rarely seen a more positive tactical backdrop for equities in our lifetime. Earnings are beating, the macro is turning, the "once in a lifetime" transformational mega-theme keeps delivering. Add to this the fact that stocks are not even expensive yet and that many sentiment & positioning indicators could get more stretched and you have the ingredients to a continued perfect storm in equities. However, sometimes even winners need to pause. We do believe equities will be lower over the next few weeks. The key reason is just our "trading feel". Below are some other observations.

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