Stocks closed the trading week in positive territory, with all major indexes (^DJI, ^IXIC, ^GSPC) posting their best week of 2024. Ned Davis Research Chief US Strategist Ed Clissold joins to discuss current market dynamics.

Clissold notes that regarding macro fundamentals, "nothing's really changed over the last few weeks." He states the economy continues to trend towards a soft landing, inflation is steadily declining, and earnings are showing solid strength — calling the recent sell-off "a hiccup in an ongoing bull market."

Clissold outlines four stages typically seen in a major market sell-off: overselling, a rally, a re-test, and finally, "moving higher with really strong technical action." Based on this pattern, he suggests that in the coming months, he "wouldn't be surprised" if the market experiences some additional volatility.

However, Clissold remains optimistic: "The market had a chance to crack, and so far, it just hasn't done that."

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This post was written by Angel Smith