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Federal Express has been a good leading indicator for the S&P 500 over the past 10 YEARS! Back in 2002, FDX created higher lows and the SPY followed. In 2006/2007 FDX created lower highs and the SPY followed it down.
Now Fed Ex could be sending an “EXIT” signal for the markets/SPY as it hit the top of its rising channel and has been breaking down of late!
Fed Ex has been a good leading indicator at bottoms and tops. Will it be different this time???