• Profile picture of Seth Golden

    Seth Golden posted an update 3 years, 6 months ago

    Last month we highlighted ourview that long-term resistancein the S&P500 around
    the3550 level would bevery difficult to surpass prior to the outcome of the US
    election and passage of CARES 2. This view was based on very strong long-term
    technical resistance going back to the late 1980s. After breaking through this upside in
    early September, the index quickly retreated for its first 10% correction in this new bull
    market. On Monday last week, the index once again mustered up a valiant effort to
    break through, only to be thwarted once again. We noticed this second attempt also
    occurred on less momentum, suggestingthecorrection that began in September is
    likely not complete

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