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Lucky Loonie
Only two days left before a new monthly bar is printed. The monthly SPX chart below shows that April will be the first down month following 5 consecutive bull bars. The first correction following that type of persistent buying is typically short and shallow, and nearly always leads to new highs. chart We can see that last week was the first bull bar following three large consecutive weekly bear bars. Typically we’ll see at least a double bottom or one more leg slightly lower following this type of action. So maybe we see one or two more weeks up followed by a retest of last week’s low (which would also be in ... (full story)