This in the Wall Street Journal a few minutes ago.
- Many investors and analysts fear a postelection rally that has driven the S&P 500 up roughly 10% has cleaved share prices from the underlying fundamentals that tend to drive gains over time, such as interest rates and corporate earnings
- What's due now, some investors say, is a correction: a 10% pullback from the indexes' March 1 highs
- They contend such a retreat would tamp down speculation, deflate pockets of froth in popular investments and provide buying opportunities for those still on the sidelines
More clichés at the full piece here (may be gated)
Includes gems such as:
- Such declines serve an important function in a healthy market cycle
- What goes up often comes down
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So much insight
