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Richard Wyckoff would call this a “change of character”; that is the market is not responding in the way that it used to recently. There are many signs of this, so if you’re interested just “Google” it. But here’s one of my favorites. The chart below shows how the S&P 500 responded to selling pressure by touching the 50 day moving average, then rebounding and continuing the stair steps higher. More discussion at: www.special-risk.net . Have a good week ! :)