US Stocks: Rally is not Over
After a strong rally US stock market stays in a range for some days. I've marked some similar cases for last 2 years on a SPY chart below. If it moves higher from here, there will be a dangerous situation with a potential of serious correction of whatever the market gained during this rally. If it steps back just for couple of days, then more upside may follow. I really hope for a second scenario.
lots of strong companies with good Qs so i think its up. i agree
I expect upside too in a horizon of several months, but such a strong movement may be corrected short-term.
I think till October we are quite safe.
And what risks will happen in October the market has not yet priced?
just that people are always edgy about October and the group effect cannot be ignored.
Stocks sometimes grow after the probably-risky-event just because the waiting is over.