Menu Close

Perfectly Pinned

This is a syndicated repost published with the permission of Slope of Hope – Technical Tools for Traders. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

For the entirety of last week, as well as today, the market has seemed exceptionally boring and dull. I was wondering if it was my imagination, but one glance at the SPY will confirm it. Here, for instance, is what the market was doing about a month ago.

In recent days, it has instead looked like this:

Tiny, pipsqueak little bodies. especially if you focus on last week’s five sessions. The market opens, it moves around as much as a five-month old corpse, and then it closes. In fact, if you draw a line from the open a week ago until today’s close, the net change is almost exactly zero. Dead. Dull. Drab.

I wonder wondering the last time the market was pulling a stunt like this, and sure enough:

That was literally the peak before the Covid plunge.

Not that I’m saying we’re about to undergo the same thing (nice as that would be). But, looking at the past few years, I cannot help but be struck by the alarming similarities between the peaks I’ve pointed out here:

Join the conversation and have a little fun at Capitalstool.com. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RSS
Follow by Email
LinkedIn
Share

Discover more from The Wall Street Examiner

Subscribe now to keep reading and get access to the full archive.

Continue reading