Sid Mokhtari, chief market technician at CIBC Capital Markets.Supplied
Price momentum has surged in recent weeks, with the S&P/TSX Composite Index opening at a record high just shy of 28,000 on Thursday. Over the past 27 trading sessions, the index has rallied more than 1,000 points. As of the close on August 7, it is up an impressive 12 per cent year-to-date. Given this strong price momentum, is the market overextended in the near term?
On August 5, The Globe and Mail spoke with Sid Mokhtari, CIBC’s chief market technician, to get his technical take on where markets may be headed over the historically weak summer months. His recommendations have consistently outperformed the broader index across a wide range of market conditions.
Mr. Mokhtari publishes a monthly report with his Top 10 stock ideas and his disciplined process continues to lead to portfolio outperformance. He screens and selects stocks from…
