For the last 11 weeks – off The Dimon Bottom – the S&P 500 has made higher lows week after week without break. Last week, however, saw the streak end (with a lower low set). This length of incessant "uptrend" streak has not been since February 2011, at which time it was broken leading to an immediate decline followed by a considerably plunge soon after…
Couldn't happen again?
In 2011, the S&P 500 fell 4.8% in the month after the trend was broken… and then a 20% decline into the fall of 2011.
While we are sure it's different this time, between "Brexit" and the Election there are plenty of catalysts for 'uncertainty' however.
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