$SPX $SPY $IJH $IWM My short term indicators did of course bounce on a strong day like today, and history shows they are highly unlikely to quickly revisit the prior lows of Monday. When did they do that last? During the #COVID19 Crash, and this is not that IMO.
The differential diagnosis is between "nearing the end" of a dip vs. the beginning of a correction or more. Since we are coming off ATHs, this is not unexpected (the zero reading). It means all the indicators that were previously strong are all weakening in concert. This is new for the large caps, already ongoing for the small to midcaps. The short term indicators indicate the possibility of a bounce, even if this becomes a correction over time. 3/3
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