Higgenbotham's Dark Age Hovel

[Higgenbotham]

Over the past month, the stock market has made a few false starts to the downside before going back up to or near all time highs. My guess is that Friday's move down is the start of the real move which leads to the first longer lasting wave of a bear market. This first wave may last a few months.

I think the stock market may put a top in today or tomorrow before it once again has a larger drop. The main indices like the S&P made new highs on this move over the February 19 high but the small caps and Transports are below the earlier highs.