By Gary Antonacci
The U.S. stock market is still having trouble sustaining an advance. This has been a pattern over the past six months. The stock market advances to new highs and then pulls back soon thereafter. This kind of action could be viewed as consolidation before a more sustained rise, or it could represent distributional topping prior to a more serious correction or change in the market’s long-term direction.
The bull market in U.S. stocks is six years old now, and the average duration of bull markets has been around 5.4 years. Over the past two years, more people than usual have been looking for any opportunity to call a market top because so many lost money during the last bear market. But we should not forget that there have been bull markets (1949 and 1975) that lasted more than twelve years. Markets often climb a wall of worry and can ... Log in or subscribe to continue reading.