Roxybear : Personally, I'm pessimistic about the market outlook for the second half of 2021. Although I am a long-term stock market bullish, I must admit that the environment of record low interest rates and high levels of quantitative easing cannot last forever. The minutes of the Fed meeting show that they are considering curtailing bond purchases in the near future. The current record level of margin debt in the market will eventually have to fall as investors consider the possibility of raising interest rates earlier. Furthermore, although earnings in the general market increased 20% and the S&P 500 increased 15% year over year, this still keeps current valuations at a very high level. Whether we like it or not, this level will definitely fall as interest rates rise. I believe the stock market will begin to absorb this factor in the near future, and we may see a broad market correction in the near future.
Looking ahead, I'm sure growth and momentum stocks will experience some pain in the near future, although if you believe in the long-term potential of your holdings, they are likely to perform well in the future once the economic uncertainty has subsided.