07Jun3:47 pmEST
So is it Fair to Say That Comey's Testimony is a Buffer?
Into the closing bell, the market is hanging in there rather well in front of the Comey testimony tomorrow morning. I recognize that his testimony is not particularly market-relevant on the surface. But if he launches a few verbal mortars it may be enough to see the market hold off on a new leg higher in front of the main event next week.
And that main even would, of course, be the FOMC a week from today, almost exactly. Thus, the Comey testimony may be a buffer until then.
In the meantime, we have some intriguing stocks and niche sectors/industries holding up and acting well today. Momentum is not widespread to the upside, and the energy selloff is a bonafide mess.
But bulls are making their case, yet again, for a resilient market which still presents viable opportunities.
More in my recap after the bell.