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Joined: 28 Dec 2005 Posts: 11986
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Posted: Tue Oct 24, 2006 2:08 pm Post subject: Comparisons of Two Steep Rallies |
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The first chart shows the SPX rally in 2003, when the cyclical bull market began, which was the steepest rally of the current bull market. That rally lasted just over three months and resulted in a volatile consolidation. The second chart is a current SPX chart. The current rally began just over three months ago. If SPX is near a top, there may be a consolidation between 1,350 and 1,380 over the next few weeks, until either a topping process is completed for a correction, or a pause is completed to rise into the end of the year.
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