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Here's a pre-market eye exam Chris Kimble sent me today. Note: The index gained another 0.91% today not shown in the pattern.
The 500 index looks to have found support along a series of lows and is breaking above a bullish falling wedge.
Last week the "groundhog" charts were produced, suggesting a rally could take place within the "repeating trading range."
Since the 500 index has rallied around 10% each time it has hit this support line and so few investors are bullish, odds favor this breakout still has room to run.
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