We've seen this setup two previous times already

The last two times the S&P hit the lower bollinger band it bounced back up and eventually ran along the upper bollinger band for months.

You can see it pretty clearly on the chart below.

Sees:

(Source: https://stockcharts.com/h-sc/ui)

Is this time going to be different?

I would not be surprised if this time was different give how close we are now to the election as well as the fact that much of the stimulus that went out into the economy has been used up.

Plus it doesn't look like any more stimulus is coming in the near future.

Either way, I bought the dip with a small position just in case history repeats for a third time, plus you know the FED isn't going away so eventually I suspect we will make new highs yet again.

Posted Using LeoFinance