Trend following the S&P 500 Index this morning. It is challenging that gap Up Breakout back on April 1st (red circle on the chart). That was the market valuation then at $2,845, todays valuation is $2,845. And obviously the market bought that as undervalued.
So we’ll see what the market values today and this week. The all time highs, 52 week highs, the new highs, are all pretty much irrelevant at this point. Those Highs have been rejected, or, not elected. Can the market get back up there? ..of course.
For the new readers, this is about pure trend following. No predictions, no forecasts.