The SPX monthly Chart below is showing we are in a bull market, however there are historical values that are popping its head up. There is a saying that history does repeat itself. And we can see that it has done so a few times on this chart.
Right now on the S&P we see prices are back up at the resistance area, and there seems to be no harm done. Or is there????
It is safe to say on a longer term level, the market has done nothing but to go sideways, taking investors for a wild ride and leaving other investors with no money, just leaving them on the sidelines, scratching their head to wonder what just happened.
Right now investors are scratching their heads, wondering what to do, as we are up at significant resistance levels.
The mentality out there is this :-
BULLS : They think the market will go to the moon by next Wednesday, but are afraid to join this rally too late.
BEARS : They keep trying to short the market and get burnt britches each time. Psychologically they feel that there is a secret group on the market working against them. :-P
|spx monthly chart|
WHAT IF YOU KNEW WHICH WAY THE MARKET WAS ABOUT TO MOVE BEFORE IT HAPPENED? CLICK HERE To Join Our VIP ELITE GROUP -- FREE 10 Day Trial Offer Today!