We are in a strong, secular bull market. It will most likely end with more acceleration to the upside, according to Joe Fahmy, managing director of Zor Capital.
I often get asked “What’s the first sign you look for to tell if the market or a stock is healthy?” I always answer, “If it’s above its 200 DMA.”
We saw an ugly correction in Q4 of 2018, but the Enterprise Software sector showed great relative strength during that time.
Joe Fahmy predicts that Q1 of 2019 is the market will see 7%-10% downside before it eventually bottoms and we start a sustained uptrend later this year.