Is the World Flat?

No...the world is not flat...but the stock market is.

This flatness was on display this past week as the S&P closed in just a 5 point range over the last several sessions.

What does it all mean?

The market is waiting for something to happen. Perhaps a fresh catalyst...or just the removal of a current obstacle.

My money rides on the latter. The election being settled is an obvious and temporary concern. Or it could be about how the economy will look with higher rates and a stronger dollar in place.

I suspect that once these obstacles are cleared away that stocks will finally be ready to break above 2200. And I would bet on that happening before we close the books on 2016.

Best,

Steve Reitmeister

Executive Vice President, Zacks Investment Research

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