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I think the index that you haven’t mentioned which is perhaps more important than the S&P is the EFA since it represents a larger total market cap of the the world economy.
That index looks like it could be a consolidation head and shoulders pattern if I’m bullish, but given the fundamental backdrop I doubt it. The entire advance from 11/11 till 5/12 looks like a B wave or 1.
Thank you for the comment. I can’t find anything in the EFA that I’m not seeing in other indexes. Additionally, violates my 80/20 rule.
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