Blog

Critical Inflection Point: Stocks Encounter Stubborn Resistance

The major averages spent the first two weeks of July rallying from extremely oversold levels before encountering stubborn resistance near their moving averages and downward trendlines. We have seen stocks fail at resistance multiple times since the two month downtrend began in late April. The major averages are at a critical inflection point: either break above resistance or rollover and retest 2010’s lows.

Leave a Reply

Your email address will not be published. Required fields are marked *