TraderWise

In today's chart you can see that the market has been in a relatively tight range between SPY 108 - 112 during the last four months. We had a small break out to new highs and a brief dip below that level. Bulls and Bears are fighting it out and in the next few weeks we should have a breakdown. Bulls argue that solid earnings and low interest rates present attractive stock valuations. Corporate balance sheets are strong and companies have dramatically reduced expenses. Any uptick in demand will go right to the bottom line.