Is when it is not clearly a bull market anymore. Just two weeks ago the Wall Street Journal published an article touting the news that technical analysts thought the market had room to run. Instead, it has faltered fairly firmly. Stock action was a little too happy through March and April. Clearly, the market was near a temporary top, which has now occurred.
Where to go from here? Normally, reputation being dear, I would refrain officially and formally from making any sort of pronouncements about where the market will head next. And if I knew now, then I'd be wrong. Unfortunately, the certainty that existed just a few short weeks ago is no longer. The prospects for up, down, or sideways movements are all equally likely, at least to the non-measuring, qualitative human mind that is usually applied to such predictions.
All that said, I would conclude that the market is about to be completely random.
Which means, in translation, that we're likely due for a rise, but not for very long.
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