by Chris Vermeulen
Market Oracle
We are currently experiencing a “Kondratiev Winter” stage in this stock market which is at its’ “tipping” point. This is where nominal to incremental highs on the SPX can be exceeded by 2%, but, by no more than 4%. I am observing a “MARKET FAILURE” right here and now. This is a BULL TRAP!
Last Fridays’, August 5th, 2016 rally in the SPX big price move, on low volume, resulted in no trend change to the larger BEARISH patterns. It does not change the Bearish pattern, but it probably does mean that the current rally will last for at least a few more days. There are multiple times in which rallies are reversed during the early part of the following week after a strong jobs report.