The stock market top, especially for the Nasdaq 100, is clearly in. The other averages have also sold off but all of them are going to have a monster rally for one, possibly two days when Congress funds the gov’t. at least for a couple of months. Don’t be fooled. The biggest one or two day rallies come during bear markets and the DJIA will have the biggest splash, quite possibly making a new ATH. It doesn’t matter, it will be just to sucker in as many as possible and won’t last very long. The stock market bear has come out of a 12 year hibernation and isn’t going away any time soon. (This was written last week and has been sitting in my draft folder waiting for events and the charts to set up. I didn’t know McConnell was going to make the offer but pretty much expected a temporary kicking of the can type deal.)<\/p>\n","protected":false},"excerpt":{"rendered":"
The stock market top, especially for the Nasdaq 100, is clearly in. The other averages have also sold off but all of them are going to have a monster rally for one, possibly two days when Congress funds the gov’t. … Continue reading