Who says that markets don't have memories? The Consumer Confidence Index is at an 18 year high and this could be a Bearish signal. In other words, investors are so confident that practically all of them are fully invested so there is no one left to buy and stocks go down. Because of this I thought that it was important to show you some long-term resistance level that will be important to watch over the next few months if equiities continue to rally.
The SOX Index is trading at the same level that it was at in March of 2000, financials are testing the same levels that they did in 2007 before the financial crisis, and the energy sector in near to levels that were resistance for almost two years.