The market went into a new downtrend yesterday, Thursday, October 3rd. This is a rare event lately as this is only the third downtrend in the last two years. Markets are at extreme valuations, so caution is adviced.
We have just witnessed the shortest possible downtrend: one day. The market went back into an uptrend yesterday Monday, March 26th.
The market entered into another downtrend on Friday, March 23rd. This caps the uptrend to only two weeks and makes it the first short-lived uptrend in over two years.
Another short-lived downtrend. The market entered another uptrend on Friday, March 9th.
We have been in a continuous uptrend since March 1, 2016 (with the exception of a few days in June 2016). This is unprecedented and speaks volumes about this bull market and how strong it has been over the last two years.
We did, however, get a shift in direction yesterday as the market went into a downtrend.
After only a short weeks downtrend, the market went back into a new uptrend yesterday after three strong up days in a row.
With market reactions to the Brexit vote we entered another downturn.
I have been way late with this update. But with this past week with volatility related to the potential Brexit it is about time to update. The market it expecting a “stay” vote based on todays market action. The market continues to be in an uptrend that started March 1st.
After a market that has been shifting very little in direction in all of 2015 we have now had three directional shifts since December 11th. Volatility is increasing. The market went into a new downtrend yesterday January 4th.
The shortest downtrend in years is already over. The market went into an uptrend again yesterday.