S&P 500 pushing upper bounds on regression channel - Weekly

SP:SPX   S&P 500 Index
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S&P 500             Analysis

Drawing a linear regression channel from the March 2009 lows with +/- 1 & 2 standard deviation channels, it looks like the S&P             may be peaking out on this record bull run. As you can see, moves of 4-5 standard deviations are typical over long periods of time, this last up move being one of the largest.

I believe a shorter term correction is pending, if not immenent.
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