The battle between policy and fundamentals should really heat up in November and December, after the election. Once we see who wins—and what the new president means to do and is able to do—we'll be in a much better position to make forecasts.
One thing I do feel confident of is that there will be a great deal of fuss and noise in the last part of the year. And, as usual, most of it will actually mean little to nothing in the long term. As you read the news and follow the markets in the fourth quarter, keep that in mind.
Brad McMillan is the chief investment officer at Commonwealth Financial Network, the nation’s largest privately held independent broker/dealer-RIA. He is the primary spokesperson for Commonwealth’s investment divisions. This post originally appeared on The Independent Market Observer, a daily blog authored by McMillan.