Since I did not do a video market recap yesterday (due to internet issues that will hopefully be fixed today) let’s take a look at the S&P 500 Index daily chart. Over the past few days, you can see yet another rather high, tight, and orderly consolidation since last Thursday’s rally. Note how this price action is seemingly in stark contrast to the constant calls for a market top or imminent sharp rollover.
Trade what you see.
2 Responses to More Pleasant Red
Agree. Trends only occur 20% of the time and consolidations occur 80%.