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Regarding the SPY chart below. three very positive things happened: (1) The descending trendline which defines the bear market was respected as resistance; (2) we slipped back below major Fibonacci support; (3) the ascending trendline from October 13th has been broken for the first time.
Get it? Because I posted these ideas two days ago, based on gaps, but instead of victory lap, it’s a victory gap? Right? Is this mic on?
