Too many bulls
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SPX - time to chill?
The SPX has traded inside the almost perfect trend channel that has been in place since July. We undershot once, recent lows, and have now overshot. Note the 100 day moving average is slightly higher...and the index has put in one hanging man candle, followed by an inverted hammer (so far today). These are typical candles that signal a possible pause in the short term trend, but we need a confirmation as always.
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