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Another Up Day Would Be Bad News For Bears- Professional Edition

The short term upturn that the technical indicators hinted at on Thursday and Friday came to fruition on Monday. A 6-7 week cycle upturn has apparently begun. In spite of some improvement in 13 week and 6 month cycle screening indicators, there are no buy signals on the broader market indicators yet, so I assume that those cycles are still in down phases. With the 6-7 week cycle opposed that would normally be a recipe for churning. Upside follow through on Tuesday would suggest that the down phases in the longer cycles may be truncating. That would be bad news for bears.

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S&P 500 Chart
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