Brexit and a Fully Valued Market

The stock market has entered the proverbial “sell in May and go away” season, which typically brings summer doldrums and sometimes deep selloffs, as evidenced in 2015 and 2011. Through the end of May, however, the stock market had strung together four straight winning months. Now, we are heading into July and stocks continue their resilience. At the very least, the latest confluence of foreign and domestic data will likely provide more volatility, as well as the possibility of some new opportunities.

 

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