Where Are We in the US Market Cycle?
The US Market endured one of the worst holiday seasons of all time this past Q4. Since then we have rallied HEAVILY off the lows and in fact, "one of the best starts in stock market history by the Russell 2000" has happened.
Well you remember what happened in 2016, with the worst start to the year? It may be about to turn into the exact opposite.
Above you will see where I believe we are in the cycle. After rising so STEEPLY, and possibly topping, you get the initial down move. Then you get "THE BOUNCE". We are coming up on the last arrow here.
Unless major resistance is taken back in the indices, I believe you are going to see the rollover and test of the major moving average below.
Published by Hey I'm Snuffles
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These markets are rising because of the Powell effect...being patience with interest rates hikes. This to shall pass soon.