of QE-3 Formed a Stock Market Top Formation that Presents a Technical
Resistance that will be VERY DIFFICULT to Overcome!!
market swings (based on the S&P 500) have been extremely volatile since the
end of QE-3 in December of 2014. In
fact, ever since QE-1 ended in 2010, QE 2 ended in 2011, and Operation Twist
ended in 2012, the market rose slightly and then fell sharply soon afterwards
(First Attachment—Ending QE and the Markets Reaction).
Attachment—S&P 500 – Ten Market Peaks) These are the same type of stock
market swings that remind us of all the other endings of QE phases. This time the S&P 500 rose into 2015 to
make a record high in May of 2015 at 2135 (rounding out for simplicity). The market has not exceeded that level since
then, even though it has come close numerous times over the past year. [More]