So far 2015 has been a difficult environment for investors as the indexes have “chopped and slopped” in a mostly sideways range since December of 2014. Each time the market has appeared ready to bust out to new highs and begin a potentially strong, new trend to the upside, it has backed down into its prior price range relatively quickly. Conversely, each time the market has looked like it is ready to split wide open on the downside it has suddenly found its feet and turned back to the upside. This has led to a highly “channelized” environment that makes life tough for trend-following investors as leading stocks exhibit characteristics specific to such a trendless environment. But these are merely difficulties left to be conquered by shrewd investors. Let me explain.
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