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Confirmation that the mid-January lows are being tested is still needed, and remember not all tests are successful.
When the market doesn’t do something it “should” do, it usually means that the underlying trend is unusually powerful. Plus, two ominous-looking charts.
The rare occurrence of two 90% upside days so close together doesn’t fit the “transitioning from a bull market extension to bear market” scenario—but the longer-term internal deterioration shows no sign of reversing.
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