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Approaching A Double Top Rather Than All Time Highs
We see that the S&P 500/SPX (SP500) continues to power through to prior all-time highs/ATHs around 3,400. In fact, SPX is only about 0.62% off from its ATHs (at the time of writing this article). However, despite the market's "optimism," due to unprecedented mayhem, (coronavirus resurgences, social unrest, slowing economy, etc), the S&P 500 may be approaching a double top rather than new ATHs.
Trees don't grow to the sky, and stocks cannot appreciate continuously without corrections