Pick a Direction
May 7, 2022
We've seen this story before.
The current environment reminds me a lot of 2010.
We had that ripper in stocks off the March 2009 lows, and then in 2010, consolidated in what appeared to many as a classic Head & Shoulders top.
But then it wasn't, and stocks never looked back:
We have a similar set up today: an epic rally off the March 2020 lows, and then a toppy looking consolidation.
The best Head & Shoulders tops are the ones that aren't that at all, and then stocks rip higher.
Is this one of those?
Let me know what you think.
Which way will they fall?