Looks like the S&P 500 is on track for its first negative return since March of 2017
Sure, we could rip off another monster rally tomorrow, but the odds are not favorable for finishing in the green.
But give this market some credit, considering that it was trading about 9% lower than where it where it is now, just a couple of weeks ago. The fact that it has recovered that much, is quite impressive.
I think there is a strong chance we see a retest of the all-time highs next month or very close to one. After that, the potential for a double top in this market becomes very real. Market sell-offs don’t start at the top and go straight down, though it seemed like that earlier this month, it became much more “normalized” with the bounce that we saw soon thereafter, and has persisted through today.
I remain on the long side of the trade, and will continue to stay that way, until the market decides to shake things up once again.
Here’s the bullish watch-list to follow this week. I’m a day late in getting it out, as I was dealing with a nasty fever yesterday, that kept me away from posting anything.
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