Today we will talk about a technical aspect of the market. Last week the S&P high and low were within the range of the prior week, indicating short-term indecision. Today we are seeing the pre-market indicators pointing to a a price level above last weeks high. Technically this means a test of the resistance level at 1120 is setting up. Trade accordingly.
It is important to keep in mind that the market is nearer our expected highs of the year rather than the lows and long-term investors should be looking for sell points rather than buy points.
Later this week we will have a post “NO MORE BUBBLES” that will be a long read but probably worth it.