Persistent Market Strength Defies Deeper Pullbacks
Over the last two months, every dip in the stock market has been bought quickly, leaving many traders waiting for a deeper pullback in the $S&P 500(.SPX)$ and the overall market, that has yet to materialize.
Instead, the market has continued to set higher highs and higher lows as the N $NASDAQ 100(NDX)$ and stocks like $Microsoft(MSFT)$ , despite several unfilled gaps below the current prices.
This is a market condition I accurately anticipated back in April, when a second bullish signal emerged amidst widespread panic and apathy towards a new bull market. The following quotes are from April 26th when I documented a rare bullish signal with historical charts.
If this is your first time encountering it, I hope you quickly adjust your market perspective and accept that after such a bearish day like last Monday, the market can roar with potentially reversal candles or gaps invalidating bearish setups.
If you're feeling frustrated about missing the exact bottom and letting doubt prevent you from going long, the three examples charted above might offer some comfort. They illustrate that these types of reversals often occur amidst choppy price action and setups that inspire hesitation. If that resonates with you, it's time to move forward and navigate the market that is in front of us, and not the market we want to have.
A third rare bullish signal then appeared two months later, confirming my analysis.
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