Drizzt: long term market analysis is a series where we take a look at longer term trends in the market to get our bearings right on the general direction of where market prices is going.
Markets had a good run since the start of the year until the recent rate scare correcting the market down from here.
Where do we go?
The 20 year SP500 chart shows us that we are still at new highs. Keep in mind the 2007 high was near 1550 and 2000 high was 1500.
The lame thing is to say markets can go up or down, but that’s how all these charting is, there is a probability that both can happen. If you are a trader, the important thing is your action plan should both happen.
Folks looking to accumulate or get vested would be in anticipation how it will resolve.