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As we open this Monday we have a bullish and a bearish pattern in the S&P 500 index. On Friday we had a nice breakout up through the down trendline in the SP500. Not only did this breakout close on the daily and weekly chart but it also occurred on higher volume giving it more validity. This argues...
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Well Its clear by now that the last down wave was already completed and we are in a good bear market rally. I say bear market rally and not a bull move for three reasons. First, no bear market has ended before the end of the 4 year cycle since World War II and that cycle doesn't end until mid next...
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The last four days have had nice strong rally with two 90% up days. However, we are still below the down trendlines which keeps us looking at the market in bear mode. If we step back and look at the big picture on a monthly chart, the SP 500 has broken down from a double top. Shortly after a breakdown...