By Richard Russell
According to my old friend, the late Joe Granville, a bear market ends on the day when the number of new lows on the NYSE hits its highest number. Conversely, a bull market ends when new 52-week highs on the NYSE hits their peak. But that hasn't been working lately. Analysts are pulling their hair out trying to find a technical method that will call a top to this market.
My question - why beat your brains out trying to identify a top when you can be on the sidelines just watching one of the most complicated advances in stock market history?
This bull market has knocked out hundreds of hedge funds over the last few years. Ironically, it has been shown that most hedge funds have not been able to keep up with simple index funds. My own advice is that if a market is “trendless” and the best traders can’t make money in ... Log in or subscribe to continue reading.