The market participants took a decidedly more positive attitude in the latest week. We caution not to get too optimistic as we have several more economic data points coming that will still be negative.
Just as we say farewell to Winter, here in Dallas, there will be a cold spell every once in a while as a switch is not turned on and Spring comes the next day. Spring comes as a gradual process and slowly the temperature turns warmer. As Spring comes, the temperature gauge does not fall as low as the latest cold spell and slowly rises to a higher high. We like the similarities of the capital market movements as slowly but surely the markets warm, but they will not go straight up in a line. Do not be surprised when a cold spell works it’s way through the markets and prices fall in the capital markets. Patience! JK