Sunday, May 2, 2021 4:25 PM EDT
We are nine weeks into the rally phase of the cycle following the intermediate-term cycle low that occurred during the week ending March 5. The magnitude and duration of the previous phase reconfirm the current bullish translation and forecast gains.
In this article: SPX
Latest Comments
Stock Market Continues Test Of Critical Support Level
That is an excellent question, Alexis, and worthy of a long, in-depth discussion. However, the short answer is that market prices are based on the decisions of all market participants, regardless of whether they are basing those decisions on rational, fundamental data or irrational imperatives such as greed and fear. Essentially, market behavior reflects the sum total of all knowledge and emotion driving the decisions of its participants.