Testing the Top of the 3-month Range!

A meaningful breakout in the second half of February would be quite bullish.

• The stock market is very expensive. It has been range-bound for almost three months now…..No matter how expensive it is, any meaningful upside breakout of this range will be quite positive on a technical basis……Having said this, we’re heading into a seasonally weak part of the year……In other words, the action in the stock market as we come out of the long weekend next week could/should be very important as to how it acts over the second half of Q1 (and maybe beyond).