The S&P 500 just spent 8 months crossing the exact same level, carving out a top, and then broke decisively through its 50 week moving average. Basically how the bull markets ended the last two times, although each top was a different duration...
Sept. 5, 2015
"Wall Street’s top [10] strategists are bullish on U.S. stocks through the end of this year and into 2016...There is no dissent in the group on the market's direction: upward"
"Tops are a process. Followed by an event"
Multiple failed rally attempts over two and a half weeks:
Skynet just figured out today that the trend is now down - it only took a colossal 46 point intra-day reversal on the S&P...
Fool me three times, shame on me
