February 4, 2010
This wasn’t very nice day for bulls now was it? I’ve been posting DeMark’s monthly sequential 9 count indicating trend exhaustion was at hand for some time now. This doesn’t mean a sharp reversal necessarily; generally it just indicates there will be a reaction of indeterminate scope. Below is the chart for SPY (S&P 500 ETF) and please know that this appearance is similar for most major market sectors whether in the US or overseas.
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