I was recently interviewed on FinancialSense.com regarding the DecisionPoint outlook in the short, intermediate and long terms. What seemed to get the most notice was that I said that it wasn't out of the question that we could be preparing for a new bull market leg. Admittedly, intuition (built on experience of course) has been niggling me about a crash, not a new bull market. Yet, I'm seeing signs that we are lining up for a breakout and a move higher. Though the market is experiencing very overbought conditions, in a bull market they aren't necessarily a recipe for disaster. The overall bull market bias can overcome.
Carl talked about in his recent articles, "Wait! Was that a Bear Market" and "Bull Market: How Old is It?", that there is a strong bull market bias and the wild volatility with sideways "consolidation" starting in 2015 and continuing until the last breakout from all-time highs last month, could be all we're going to get as far as a bear market.
The NEW DecisionPoint LIVE public ChartList has launched! Click on the link and you'll find webinar charts annotated just before the program. Additional "chart spotlights" will be included at the top of the list. Be sure and bookmark it!
Come check out the DecisionPoint Report with Erin Heim on Wednesdays and Fridays at 7:00p EST, a fast-paced 30-minute review of the current markets mid-week and week-end. The archives and registration links are on the Homepage under “Webinars”.
Technical Analysis is a windsock, not a crystal ball.