The Stock Market Is Not Topping
Stocks may move down into an intermediate cycle low over the next 15 trading days. If they do we will again hear the perma bears calling a new bear market. They will be wrong again as they continue to be wrong over and over.
The S&P has tested the 2100 level 9 times. There is no such thing as nonuple top. Heck there’s really no such thing as a triple top. When a resistance zone gets tested this many times it’s a consolidation before a breakout, not a top.
Disclosure: None.
How did you like this article? Let us know so we can better customize your reading experience.
And when lower lows get tested it's not a trading range it's a downturn. Read whatever you wish into both. In reality, the market has been trading in a wide trading range despite hollering from both bulls and bears that it isn't and shouldn't be. Until a clear breakout is in hand, the traders on wall street are more than happy to pocket extremist money on both sides.