by Gary Savage
Markets don’t generally go through a major resistance zone on the first try. Notice it took the S&P 5 tries before it could break through the 2015 high.
I think we can expect the same thing when the Nasdaq tests the all-time highs. It should pull back, and I expect it will take the rest of the markets down with it. Nasdaq will likely pull back to the 5,000 level.