Hello Again – It’s time to turn back to the charts because things are happening fast. This here is a chart of the S&P 500 (The S&P). This represents the stock price of 500 of the biggest publicly traded stocks in America, and it’ my favorite barometer for the broad stock market.
Remember how I pointed out the blue line awhile back? I said if it can get through that line, then all indicators would be a go. Look what the S&P is doing. It’s charging back towards that line. You can see that it has bounced off of it a number of times in the past. I circled those times in yellow. Will it bounce off it again and head down? It could, but it could go through it too, in which case the stock market would be telling us that the bear market is probably over, and possibly even has been over since back in October. We will have to just wait and see.
As you know, I have been, and I remain very optimistic. I personally have been buying additional stocks and adding to my current positions with whatever funds I have available. I know what I THINK will happen this time, but we will just have to wait and see. Stay tuned…..things could get interesting!!
Best Regards,
Mike
