A bull run in the stock markets usually leaves investors behind, and that is exactly what has been going on since the Trump election.
The normal ‘wall of worry’ that accompanies bull markets sees investors on the sidelines, thinking that any day now the market will turn lower and therefore they stand aside.
This market is different, and that may be the most worrisome as investors are piling into stocks both in the U.S. and Canada, but it is the professionals that are sounding the alarm bells.
The major warning? That there is too much reliance on Trump promises for economic and tax reform. If it doesn’t unfold as planned, we could see a big market shakeout in the months to come to the realization that the move higher since November will disappoint when the Trump administration doesn’t deliver.