The first Blog Motto (shown at the top of each page under the title) that I put on this blog was “The S&P 500 Bear-Market Rally is Almost Over.” I put that on in early May.
Then, I updated the motto to “The S&P 500 Bear-Market Rally is Over. Look Out Below!” I announced that change in a post titled: I Called the Top on May 21st. Yep, I knew it was the top only two days after the fact. How did I do that? Frankly, I didn’t really do anything more than basic chart-reading with techniques that are at least a hundred years old.
Now that the March-to-May bear-market rally is clearly over, it is time for another motto update. This one I don’t expect to last very long:
“The S&P 500 Will Take Out the March Low Soon”
By “low”, I mean the lowest intra-day print on March 17th of 1257. By “take out”, I mean that the S&P 500 will close below that point. After it trades underneath 1257 for three days and confirms the break-down, I will update the motto again.
I’m posting this late Monday night because I think the low can be taken out at any day now, including Tuesday, July 1st.