A Familiar Pattern for the SPX

SP:SPX   S&P 500 Index
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There is a familiar pattern of short-term rallies that transition into consolidation and collapse in rather spectacular form. All of it happens within a definable channel that goes back to the the very beginning of 2013. I think this is a sign - particularly the last 6-9 months - that there is a short-term mentality amongst the speculative ranks. Should it look like the long-term trend is in jeopardy, this is not the crowd that will fight to keep the market up...
Spot on!
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