On Wednesday’s episode of Larry Kudlow’s CNBC show, Vince Farrell said that he thinks the stock market will “consolidate” here. This is important because Kudlow has named the apparent double-bottom on the S&P 500 chart as “The Farrell Bottom”.
I have been betting against a break-out, and now the “inventor” of this double-bottom has joined me. Of course, without a break-out, the double-bottom itself will be called into question and perhaps re-tested.
