Loading ...Thu, 08/29/2019 – 11:22
Stocks remain range bound (blue lines) and are struggling to break above resistance (top blue line). This doesn’t bode well for the bulls. If stocks can’t even break above resistance, the odds of a breakout and new bull run to the upside are minimal.
This isn’t too much of a surprise…
At the end of the day, the bull market ended in mid-2018. This rally from the December 2018 lows was just a failed backtest to reclaim its trendline.