A PERSISTENT AND BORING UPTREND…
The stock market, as measured by the S&P 500, remains in a boring uptrend. Better a boring uptrend than a boring downtrend. As noted in Tuesday’s webinar, the 5-day Rate-of-Change has been between +3.5% and -3.5% since January 7th. That is basically five months without a weekly gain or loss that exceeded 3.5%. Chart 1 shows this…