Buzz & Banter
Major price reversals tend to be pretty important things for a host of obvious (bearish) reasons.
Looking at the daily candlestick SPX chart over the past two months and I see three reversals (candlestick guys call them gravestones): (1) on 6/6/03, range: 986 to 1007; (2) on 7/14/03, range: 998 to 1015 (year high); (3) today, range: 987 to 1005.
They say the stock market exhibits symmetry but this is remarkable. Let's see what happens tomorrow.
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