Stock Market- Update
Having warned that the bottom (temporary) was in and the stock market would have a face ripping rally, here is a very possible short term development. The charts suggest a quick one or two day, sharp selloff on Tuesday/Wed. It might be driven by a Russian victory in Donbas and or some major economic or financial news event.(remember, the market does what it is going to do and the news reports or makes up an excuse why, after the fact, to “explain” it) If this plays out as expected, it will set the stage for another leg higher in the stock market before running into resistance and topping out probably in mid to late June. Let’s see if we get a sharp pullback and take it from there.
Wishfull thinking on my part but a drop today to 32000 or lower on the DJIA would actually be quite bullish for the next few weeks.