Let’s all just step back a minute and drown out all the noise. The economy, the trade wars, the Fed, the news, buybacks, everything. Let’s just look at a few very simple charts.
What have markets done over the past 2 years or so?
We had a massive ramp following the US tax cuts leading to a temporary top in January 2018. It then took $SPX several months to eek out new highs into September.
It was on September 2nd I posted Lying Highs outlining my technical concerns why I thought these highs wouldn’t sustain. I
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