With the S & P 500 making a fresh all-time high Wednesday morning, it has erased the 6% pullback in short-order.
By late March, momentum began to slow, and it became clear that it would take some time to see the next bullish pattern.
That means there still has not been a successful bearish pattern (big or small) since last October.
If the S & P 500 can't hold this latest push to new highs, then a bullish formation like this could be constructed.
The bottom line is this: Strong trends are made from both bullish patterns working and bearish patterns failing.
Persons:
Frank Cappelleri
Organizations:
CNBC Pro