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Well this is all looking familiar. Yesterday closed down hard after a day of relentless selling with a close just under the 200 DMA, and SPX is looking set up to gap up big overnight. Is it Groundhog Day? No, I don’t think so, though the similarity is certainly very striking. At the end of the day though yesterday was just a very odd looking inside day, with no break either of Wednesday’s high or low, SPX daily chart:
This just arrived in my inbox……..so if you’ve got a teenage boy, your “what will I get him for his birthday?” problems are over:
