Between a Rock and a Hard Place

I borrowed this title from Raymond James Chief Market Strategist Jeff Saut. He used this phrase to describe the market in recent weeks… stuck between the proverbial rock and a hard place. As he described it, “The Bulls and Bears have been fighting a prolonged war of attrition ever since the beginning of March, confusing impatient investors while at the same time forming a pretty symmetrical triangle, which is a graphical representation of narrowing price action (i.e., higher lows and lower highs).” He goes on to explain that these narrowing struggles between the Bulls and the Bears usually end up with a burst in one direction or the other, as the battle is finally won by one side or the othe

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