Is this THE top, or another bear trap? My gut is we need to retest the top again, later this month or early January, after a 2 to 5% correction, and then it is time to sell the farm and short.
Employment report and Italy vote sunday will provide lots of volatility into early next week. After that, the fed will be the next major hurdle for equities.
BTW, all the classic end of the bull market action is happening, with basic material stocks leading the charge, higher interest rates, etc. But the final, you have to sell and be short, is not there yet. Normally, we get a scary 10% correction, followed by another run up to near the old highs, before a bear really bites down. Even in 1987, that happened. It did not happen in the 3 month bear of 1998, but that was after almost 4 years of straight up rally.
Finally, Trump economic plan will ruin our countries economy, IMHO, as lowering taxes on the rich never helps anyone but the super rich to accumulate even more of the countries wealth while not helping the economy.
