A Big "But"
I‘m sorry. I know that none of us are supposed to believe the market can ever go down again. I know that we’re in a permanent bull market. And I know that the Nasdaq is so strong that not only did it make another lifetime high, but it did so while exploding out of its wedge pattern ...
In spite of it all, and in spite of 13 years of virtually uninterrupted “up” days, I at least want to point out the spinning top on the Dow………
………the approach of the channel peak in the NASDAQ 100……….
………the virtually perfect touch of resistance on the S&P 100……….
……….the shooting star pattern in the semiconductor index………….
……….the proximity of major resistance on the S&P 500…..
………..and the fact that the VIX has been crushed almost to the sub-teens and has been mashed down to a support level that has never been breached.
So, yeah, if you want to buy this market, I won’t stand in your way. Go ahead. Please.
A quite interesting take on a number of indicators. And a very different interpretation from some.
But dispensing sunshine is the primary responsibility of CEOs, not reporters. So pointing to the more subtle indications does bring a different apparent future to the for. What actually transpires will be educational for all of us.