The stock market is at a major decision point, with 1969 low unemployment up-trending for the better part of the last year. Low unemployment *potentially* signals the maximum productivity of an economy. This is an important area to watch and wait. If we break above and trend-line check into support it could mean a bull market similar to 1990's is starting.
However if it holds as resistance we're unfortunately looking at a move back down to support much much lower than where we are right now.
I'd like to think because of visiting support twice in the dot-com crash and mortgage crisis that we are much more likely to break upward. But caution should be on our minds.
It's a very good idea to sit on the sidelines and wait for a clear direction to emerge.
Good luck!
However if it holds as resistance we're unfortunately looking at a move back down to support much much lower than where we are right now.
I'd like to think because of visiting support twice in the dot-com crash and mortgage crisis that we are much more likely to break upward. But caution should be on our minds.
It's a very good idea to sit on the sidelines and wait for a clear direction to emerge.
Good luck!