U.S. Stocks Have Rallied Without A Meaningful Pullback Since October Low
Eric De Groot | Nov 18, 2014 07:18AM ET
US stocks have rallied without a meaningful pullback since October low (chart 1). The advance, recovering nearly all of the previous decline (O stack) and hovering near a technical breakout, has encouraged and disheartened the bulls and bears, respectively. The NYSE Composite, despite the impressive rally, remains in a cause building phase until an X stack jumps the creek over the -45° degree trendline from the September high (yellow line).
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