If you’ve ever heard of or followed technical stock analysis, then the terms ‘Triple Top’ or ‘Higher Highs and Higher Lows’ may be familiar ones!
Defined, a Triple Top is the scenario when ‘the price of an asset creates three peaks at nearly the same price level. The bounce off the resistance near the third peak is a clear indication that buying interest is becoming exhausted. It is used by traders to predict the reversal of the uptrend’. (Source)
On the other hand, a more bullish pattern is described by price movement where there are higher highs and higher lows (throwing out the late 2014 spike down when there were whispers of a Fed interest rate hike)?
As a stock market watcher with a background as a Wall Street equity trader combined with being an investor, the state of the market and its future direction is most definitely of interest.
That said here has been endless speculation surrounding the Fed-driven stock market rally and the potential time frame in which that institution may raise interest rates.
There are also other market moving factors at work including unprecedented geopolitical angst, the severe decline in oil prices, powerful US dollar strength, tepid revenue growth for many companies and so on all leading to the inevitable question…
Can the stock market continue its upward trajectory?
This is a two-year chart of the S&P 500 (source) and most certainly, your guess is as good as mine and definitely as good as the so-called stock market experts!
Michael Haltman, President of Hallmark Abstract Service, New York.
HAS is a provider of title insurance in New York State for residential and commercial real estate transactions.
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If you have any questions you can reach Michael by email at email@example.com.Google+