The VoSI VooDoo Report
Offbeat Ideas and Commentary from the Depths of Gil's Trading Notes
The chart below shows how corrections in the S&P 500 have become shallower and shallower. Some also cite the number of days that the S&P has gone without a 5% correction. Normally, these are presented as bearish indications. Perhaps they will play out as such, but looking at this chart one thing strikes me, which is that it also looks like some sort of coiling action in anticipation of further upside. While I cannot make any predictions based on this chart, which is really the bottom line here, it will be fascinating what it eventually "proves."
VoSI VooDoo(TM) Report - $SPX Overdue for a Correction, or Just Coiling?
|Published:||27 Aug 2021 12:04 ET|
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