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Sometimes it pays to get lucky! Was the car lucky in the above photo? When it comes to potential “close calls” the price action on a weekly basis in the S&P 500 ETF (SPY) might not get any closer!
The “weekly” closing high last week was within 50 cents of the weekly closing high back in 2007! Odds are low that this unique will stay, yet if it does….the prices couldn’t have been much tighter and an important high.
Will it be different this time….Stay tuned, it won’t take long to see if this pattern breaks!