The S&P 500 finished in the red for the second day in a row and finds itself down four out of the last six trading sessions.
As awful as that sounds, the index remains within 0.1% of its all-time closing high. Funny how that works.
If bears are going to kill this bull market, they need to do a lot better than -0.03% and -0.06%. If that’s all they got, then bulls have nothing to worry about.
We’ve had plenty of bearish headlines over the last several weeks and months. If bad news was going to take this market down, it would have happened by now. As I often say, a market that refuses to go down will eventually go up.
The way this is going, 4,000 is only days away.
Stick with what has been working. Keep holding for higher prices and continue moving our trailing stops up.
This bull market will die like all of the others that came before it. But this is not that time.
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Jani Ziedins (pronounced Ya-nee) is a full-time investor and financial analyst that has successfully traded stocks and options for nearly three decades. He has an undergraduate engineering degree from the Colorado School of Mines and two graduate business degrees from the University of Colorado Denver. His prior professional experience includes engineering at Fortune 500 companies, small business consulting, and managing investment real estate. He is now fortunate enough to trade full-time from home, affording him the luxury of spending extra time with his wife and two children.