Ghost of Igloi wrote:
seattle prattle wrote:
S&P 500 all time high: 2,930.
Today it closed at 2,864, less about 2.3% from the all time high set on 9/20/18.
How much more likely is it to make a precipitous drop of 65% now, at this level, than it would be to drop to those depths from the downturn in December? It would seem to me that we have less to worry about. Or at least, we would have much more time to sell if it did start heading down.
Anyone still claiming we are in a bear market rally?
Me. Low volume. I can remember similar price action 3/2000 through 9/2000 and 6/2007 through 10/2007. Look at S&P 500 charts with peaks 1/2018, 9/2018 and now. Of course we can have another blow-off top that takes us marginally higher. There is a lot of money and political capital on the line to keep this thing going. Bulls in charge at the moment for sure.
Can't disagree with that. Haven't examined it from a volume perspective, though.