Market Update: Does This Prove the Bull Market Is Over?
Recently, one of my colleagues sent me the cover of The Economist. It sported a picture of an aggressive-looking bull with the headline: “The Bull Market in Everything.” And under the bull, it asked: “Are asset prices too high?”
Now, as many of you know, I spent a few days last week teaching a technical analysis course at the New York Institute of Finance.
Interestingly enough, that Economist cover is an example of one of the technical indicators I discussed in the class.
See, when the mainstream media starts to report on a bullish or bearish trend, it typically means the trend is ripe for a reversal. So is this bull market coming to an end?
Well, my analysis indicates the end isn’t here just yet. In fact, since the S&P 500’s price action stalled last week — right on schedule — we’ll likely see another leg up in the major market averages.
I cover all of that and more in this week’s market update. It’s a lot of information, so let’s get right to your eight-minute webinar.
After spending nearly 20 years developing pattern recognition software for the United States Air Force, I retired from my military career in 2005. My plan was to utilize the same pattern recognition principals I used in the military and apply them to the largest and most lucrative market in the world: the stock market.