Well, my friends, it’s getting a little challenging adding a lot of new color to a market whose most recent changes for the entire trading day were down a few hundredths of a percentage point on Thursday and up a few hundredths of a percentage point today. Two words: Bo. Ring.
The entire market can be beautifully summed up with a single index chart: that of the S&P 100, shown below. The bull market ended when the wedge was broken (red arrow) and now we’re at the very top of the recent range (green tint), just waiting for the damned thing to weaken. And so…we wait.
