The SPX monthly Chart - Interesting spx monthly chart

For the last 13 or so years, the market has just been in a large sidways range. Below we have highlighted the peaks and the troughs and you will notice how the SPX prices over the last decade have hit heavy resistance and support.

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

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