Loading ...Stock Market – Update
Not a lot has changed since posting recently that while the bear market for stocks is not over, a summer rally is taking place. So far it has been limited but the charts(particularly of the NASDAQ) are carving out an inverse H&S bottom. We are still a few days away from completing the right shoulder and some geopolitcal or economic jolt could give us a sharp decline to complete it. The rally that follows should be sharp but probably short in duration. While there is a lot of room all the way up to the 200 day mvg avg. I don’t think it will make it all the way back up. The yet to be answered question is when do the metals and miners take over leadership. On this rally,or after the decline that follows this rally?
miners taking over leadership? They have been in the leadership vanguard for sometime now… that’s leading to the downside. Like for 2 years now.
“Leading to the downside…” hilarious!
Yes they have been. Don’t think that qualifies as leadership though if they were weak while stocks soared and got weaker as stocks fell. If they lead in this anticipated rally, depending on what happens to the general stock market the rest of this year, they could be new leaders if stocks fall or continued leaders if stocks continue higher?
“while the bear market for stocks is not over.”
Its bearly started. (sic)