Beware of Wildlife

On our first day at Yellowstone National Park yesterday, my wife Valerie and I spotted lots of bison, but no bears. I believe this is a bullish omen for the stock market. They were all grazing quietly. We hope to see some bears today. Hopefully, they won't pose a menacing threat to us.

Of course, at Yardeni Research, our outlook for the economy and financial markets isn't derived from faith-based but rather data-based analysis. Based on the data, we expect that the tug of war between the bulls and the bears will continue over the rest of this year in the stock market. However, the bulls should be back in charge by next year.