Stocks Are In The Middle Of An Back-And-Forth Battle, The Likes Of Which We Haven't Seen In Decades
Check out this chart of the S&P 500.
Notice something about the past several days?
You might not, because it's a little hard to read, but we've now had 13 straight days of alternating red and white days, meaning 13 straight days of alternating positive and negative closes.
And while Friday was a negative close, today is looking positive for US futures, so it could be 14.
Last week, when the streak was at 11, that was already a record seen not since the early 80s.
The back-and-forthness of the market represents what's going on in debate, too. The market is at all-time highs, and there's a feeling that the US is close to breaking out of its great malaise from the last few years.
Yet some recent datapoints aren't cooperating, and the overseas news continues to get worse.
The battle between the bulls and the bears is as intense as we've seen it in a long time.
Notice something about the past several days?
stockcharts.com
You might not, because it's a little hard to read, but we've now had 13 straight days of alternating red and white days, meaning 13 straight days of alternating positive and negative closes.
And while Friday was a negative close, today is looking positive for US futures, so it could be 14.
Last week, when the streak was at 11, that was already a record seen not since the early 80s.
The back-and-forthness of the market represents what's going on in debate, too. The market is at all-time highs, and there's a feeling that the US is close to breaking out of its great malaise from the last few years.
Yet some recent datapoints aren't cooperating, and the overseas news continues to get worse.
The battle between the bulls and the bears is as intense as we've seen it in a long time.
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