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Yet another ‘outside day’ in stocks is an ominous sign

An ominous pattern has occurred in the U.S. stock market. Let’s explore, starting with a chart, which can show us this pattern. Please click here for an annotated chart of S&P 500 ETF (SPY) Similar conclusions can be drawn from charts of the Dow Jones Industrial Average (^DJI), Nasdaq 100 ETF (QQQ) and small-cap ETF (IWM).