The last 3 days have provided a respite, but in general the market has not been kind to the bulls this summer. As in 2004, the 2010 bottom trendline has not proved to be a impermeable barrier–with a SPY close of 102.2 last Friday providing a convincing accent. Six years ago the market reversed its negative summer slide starting in August–are we three weeks early this year?
![SPY8july-cmp SPY & VIX 2004 vs 2010, click to enlarge](https://www.sixfigureinvesting.com/wp-content/uploads/2010/07/SPY8july-cmp-300x195.jpg)
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