The S&P 500 Index (SPX), today midday, trading at $3,142, is, once again, running into that resistance at $3,155, ..as shown on the stock chart below, .. as noted before. Today is the 6th time it has tagged $3,155 and failed. Of course the mass media geniuses are assigning causality of the selling today to the tax documents. How do they explain the 5 previous failures to break out?
The index continues to trade under the trend investing benchmark filter of 20% annualized rate of gain over a 200 day average – Also known as CAGR – Compound Annualized Rate of Growth.
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