SP 500 is in a Trading Range
SP 500 is in a trading range. The bull is successful by creating a double bottom. Thus, it established a base for this rally. The sell off is completed in Oct 1st. Since then, the stock market rallies till now. Although, it is weak bull. It is still a bull rally.
Whenever, there is a bull case. There is a bear case. The bear currently argues that it is the double top. But so far, the sell off from today is not even touched the 21 moving average. The bull will try to use this sell off to buy as a buy, because the previous bear wedges (failed reversal) fails to reverse. Thus, the best bear and bull are trading in a trading range for sometime.
Whenever, there is a bull case. There is a bear case. The bear currently argues that it is the double top. But so far, the sell off from today is not even touched the 21 moving average. The bull will try to use this sell off to buy as a buy, because the previous bear wedges (failed reversal) fails to reverse. Thus, the best bear and bull are trading in a trading range for sometime.
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