According to Odaily Planet Daily, Felix Zulauf, head of Switzerland's Zulauf Consulting, believes that the market will continue to rise despite warning signals from technical negatives and deteriorating market breadth.
Zulauf noted that positive liquidity trends could push prices higher, but currency fluctuations would have a negative impact on the stock market and the U.S. economy. He argued that the rise of the stock market and cryptocurrencies has strengthened consumer balance sheets.
The tight supply and demand in the U.S. labor market has pushed up wages, and strong asset prices have led more people to retire early. But a 20% drop in the stock market will lead to a reduction in spending by wealthy people, affecting the economy.