- Next significant move will be up
- High will come in May
- Followed by a sharp sell off
In my last post, 10/19/2009, I was looking for an intermediate market top, a sell off and then a rally into year-end. The market obliged and dropped from 1,100 on the S&P 500 that very day to a 1,030 low on Nov. 2. This was followed by a rally ending with a 1,150 close in January. A second sell off took the S&P down 9 percent to its February low of 1,044. Four trading days ago, the market closed at 1,102 giving us four plus months with virtually zero gain…
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Posted by Michael Chapman at 12:00 PM UTC
