SPX Ends 5-Week Run, Rallies Getting Smaller

FX:SPX500   S&P 500 Index
447 1 19
The five-week rally for the SPX             that we just concluded with a down week on Thursday's close was the largest since the climb that ended at the beginning of November. Looking back, it seems the duration of rallies are growing shorter - albeit modestly. I won't write off the possibility of a new record high over the next month; but I do believe that medium-term, we will see deeper deleveraging than what we've experienced so far.
Good point! The daily chart shows there has a strong support at 2020 , but the uptrend pressure I think still at 2060.
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