Technician Craig Johnson: Buy the Dips – Secular Bull Market Still Intact

Ryan Puplava welcomes back Craig Johnson CFA CMT, Senior Technical Research Analyst at Piper Jaffray. Craig still believes that bullish economic trends are intact, and reiterated his year-end target of 2350 for the S&P 500 Index. Craig sees continued market volatility, with swings between offensive and defensive markets. Even given the election-year uncertainty and geopolitical concerns, Craig believes the secular bull market is still alive and well, and he would be “buying the dips”. He sees the bull market lasting until the long Treasury bond hits a 5% yield, which he believes is years away. Craig is currently overweighting Industrials, Financials and Technology and underweighting Utilities, Consumer Staples and Communication Media. Also in this segment, Cris Sheridan has this week’s Market Wrap-up, and Marc Chandler covers the global currency markets.

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