Dreaded Triple Top Approaching?
NEW YORK (Real Money) -- What I learned in my investment career is market participants prefer the comfort of crowds rather than the company of the remnants.
Investors and traders, as demonstrated in recent years, seemingly prefer to buy strength and sell weakness than to address, anticipate and prepare for an inflection point or change in market direction.
That helps to explain the growing view in the business media and in other outlets that the recent low-volume market rise has been greeted with growing optimism by relatively complacent (accompanied by a 14.0 VIX) players.
That said, this chart of the S&P Index suggests (to this observer) that a possible triple top in the market might be in formation.
But technical discovery and technical analysis is not my market weather vane. It is the fundamentals that move me.