Time for another bounce

If today sees the S&P500 close at/above 1605, the 50-day moving average test will have been passed –or at least not failed. Tomorrow we’ll see if there’s any follow through. I suspect there will.

The topping-out process always takes longer than you think it will (or should). Look for the next S&P500 mini rally to be anemic on volume and momentum, and to be lead by another rise in Advisor Sentiment. If so, it will be the last rally, and identify the top. Much more in the Greedometer Newsletter (the paid part).