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SE ND | A friend sent me data going back to the early 1900's on the S&P. It is quite an amazing chart as there hasn't been a large degree pullback in all those years. Even the 2008 drop really just projected a center of sorts and made new highs. The facts are that buyers are firmly in control when looking at the larger time frame. Even this last drop, as violent as it was, is not uncommon in the least. The same pattern has been seen many times before. In-fact, if this is all it can do, it couldn't even do what the prior swings could. The pullback, when it comes will be a doozie. But as of now, I don't see anything that suggests it's over yet. | |
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