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Cobra wrote:Happye new year everyone!
2017 is the year of record:
SPY never touched its weekly eam20 for 59 consecutive weeks. The previous record was 47 weeks.
Every single month of the year was up which has never happened for decades.
The reading is, it will need considerable efforts to bring the market down so bears will have to wait for months if not a year at least. That said it doesn't mean there'll be no pullback ahead. There will be, even could be the start of the new year, let's see.