Abig technical test forthe S&P 500 lies just ahead at the .382 retracement of the1-year & 10-month old bear market.
If the previous 6-months has been a a bear market rally, then the previous 4 weeks would be a soda pop rally. A soda pop rally is when the market behaveslike a bottle of soda pop after it’s been shaken up and uncapped. It happens very quickly,makes a mess on the holder, and there’s nothing left in the bottle when it’ s done.
Stay Tuned…
Jay Norris
Senior Market Strategist and Forex Educator
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