“History Doesn’t Repeat Itself, but It Often Rhymes”

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Here’s the daily SPY chart for the past six months:

Of note:

  1. Euphoric peak with low volume
  2. Sudden gap down off extreme highs
  3. Large intraday moves with increasing volume
  4. MACD crossover

Also, you could argue the past 3 months are another ‘3 peaks and a domed house’ formation (a smaller version of the one that preceded the March crash)



Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.

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