The news appears to be having an affect on the stock market. We’ve weathered some fairly serious political and geo-political events over the last couple of weeks. The markets, however, have been fairly resilient. Just last week we were very close to hitting all time highs. Today, appears to be a different story, perhaps opening the door for an intermediate cycle low in the markets. This does not appear to be a market top, since there has been very little preparation for a move to a new bear market. At this point in time I still believe that a final bubble phase is still in the works. Perhaps the markets are setting the stage for that move by first putting in an intermediate cycle low.
Here is a look at today’s market:
A move below the 2400 mark on the S & P 500 would confirm a cycle low over the next week or two.
The target would be around the 2250 level for the S & P 500. This would surely create some anxiety for investors, and open the door for a move to new highs in the future.
What I want to stress is the need to be monitoring your portfolios. It is quite possible that some of your investments have already seen their highs for this bull market. Perhaps, I’m wrong and that the top has already been put in. If that is the case, then it is imperative that you have set your price objectives and trend lines for your individual investments.