Split Decision

An early weekly view.

The market technicals point to the fact that the market has topped, market traders however point to their view that nothing has changed and we are headed to new highs again.

That should mean that we will see a heady attempt at a rebound in the coming week, maybe to 4386 to 4447 area on the SPX and 14993 to 15266 on the Nasdaq 100. After that activity we should then see the decline start to get serious.

Have a good week. I am travelling. Will check in briefly from time to time.