With the second year anniversary of the 2007 market top coming up in a few weeks, here is a video which points out that the S&P 500 index’s date with destiny is also marked by two major technical forces:
The reason for a correction are piling up. We’ve already talked about sentiment and Lowry’s expectation of a correction. This is yet another reason to rein in any bullishness (at least in the short term).
While this rally has gone on longer than even the most optimistic bull predicted, don’t forget, we are still mired in a secular bear market. As the video mentions, we have yet to put in a higher low to denote that we have a change of trend.
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