If these are worthless as that undistinguished New York boutique said, why do people keep buying them? And besides that they are exhibiting buy signals today. As an interesting conjecture, could that be a flag? We’re going to buy some more on the off chance that it is a flag.
If this in the S&P is not interesting we don’t know what is. The S&P on the very trendline from October 2007, and the resistance line from 2008. Talk about being on the cusp. Couldn’t be any more cuspy than that.
As for the “correction” everyone is looking for, it could be happening before our eyes. A side wave can substitute for a downwave in a bull market.
From the looks of things right this moment it look like sideways in the indices and with individual issues looking bullish. And remember: every chart is its own market.