SPY trend analysis using advance/decline ratio
If we had the beginning of a new bull market an advanced/decline ratio bullish formation, like formation C, should appear now days. Instead we have a trapping formation B which is similar to formation A. The overall scene seems to be a perfect chance for the owners of the overpriced shares to unload them to people persuaded that they have seen the dip, in prices we will not see for a very long period of time.
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