D.R. Barton on Varney & Co.: Today Was Groundhog Day for the Market, Again…

Today, we saw a nice reversal in the market. The market was down – but it popped up, giving a nice profit to those of us holding long positions. But we’ve seen this before – a nice little pop, followed by another downturn. These minor upturns and downturns have many people wondering about the overall direction of the market – will it continue its general uptrend, or will it start to veer down? It’s reminiscent of Groundhog Day, in which according to the tradition the behavior of the groundhog determines if spring will arrive early or late. If the groundhog comes out of its den and sees its shadow, spring will arrive six months late – if it does not see its shadow, spring will arrive early. Just like that, we’re waiting to see what will happen with the market. In this live appearance on Varney & Co., D.R. explains what he thinks is fueling its ebb and flow.

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