Well, buying something below the Dentist Market Alert Line paid off so far. It has been a grind to get higher out of that low from 4/2, but it has moved higher. Please note on the chart above there are two channels, one is white, one is teal. The WHITE channel is the 2016-2017 channel that has contained prices most of the time except for the exuberance of January 2018. The White arrow shows where the S&P500 price could head if we were to tag the top of that channel again. The blue arrow and teal channel were built off the January highs and the March 2018 highs. Price halting and reversing around 2740 would indicate this channel is valid and could indicate a drop to the red arrow and the bottom of that teal channel. This is highly speculative and just one scenario that could play out.
At the end of the month, I’ll be sure to send out the e-mail and update the blog as always. So far, the market is holding in there nicely!