The suspicion grows that the bull market is in a broad topping process, with each marginal new high proving to be little more than a nasty trap. More immediately, the stock market’s tedious, exhausting feints are liable to grow still moreso early this week, since Wall Street’s best and brightest like to finish their alleged business and retreat to the Hamptons for Memorial Weekend a good four or five days before the roads become clogged with working stiffs and civil servants. If whatever drama you might be hoping for hasn’t occurred by Tuesday’s close, my advice would be to prepare yourself with opiates for three more days of navel-gazing.
