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By Lawrence G. McMillan

This week saw the ninth biggest one-day point gain in the $SPX in history, as it rose 58.44 points on Wednesday. With that, $SPX had rallied over 200 points in a straight up manner, since the lows just six trading days prior (a time period which included our October Seasonal rally). That is the power of an oversold rally. It may surprise you to know that all of 10 largest point moves in history (by $SPX) have been completely reversed within a matter of days or a few weeks.

The bottom line for the $SPX chart is that if it breaks out over 2820, it would return to a bullish status. But if it does not, the pattern of lower highs and lower lows will...

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Recent Blogs

Nov 9
By Lawrence G. McMillan

This week saw the ninth biggest one-day point gain in the $SPX in history, as it rose 58.44 points on Wednesday....

Nov 9
By Lawrence G. McMillan

On Wednesday, $SPX made a huge move to the upside, rising 58.44 points in a massive display of buy programs that...

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