Everybody Back in the Pool! Not So Fast…

Two key bellwethers, Apple and Boeing, looked poised on Friday to lead the market higher when trading resumes Sunday night. However my latest update for the Dow Industrials is skeptical about the staying power of this rally. It looked like knee-jerk short-covering, and although that is no reason to get in buyers’ way, we should be cautious before joining in the revelry. My hunch is that it will be short-lived.