us market

I saw this on the US program ‘Business Report’ this morning. Paul Leibovit, Chief Market Strategist for vrtrader.com does not see a major bear market coming. For what it's worth I have paraphrased his comments.

“The model that we created for the market this year has been pretty accurate. … But basically the pullback we're seeing here is expected, a little choppiness here in November. A lot of this is news related worries about the financial sector. There have been some negative volume reversals the last couple of days. But it looks to me like this is a retest process of the October lows ... But I think overall, the indicators that we're using are cyclical indicators as well, saying this market's going higher and we should see a strong year-end rally and I think a move into a new high next year. … Yes, we're having a correction now. It's looking nasty but we're going higher. …Yes, the financial sector is weak. Interest rates are coming down here though, they are going up worldwide. … The dollar is weak which is good for the stock market, a lot of positives out there.�