Market showed off a very powerful week at the end of June with 5 straight winning days but would that mean the end of this bear market? Some may say so considering all those 5 days market closed at the top of its candles. Interestingly though, I found some surprising similarities between this market and the summer 2010 when market also in a major sell-off. History doesn’t repeat but will it rhyme?
Take a look at this chart in 2010:
In the square, market rallied off what seems to be a small double bottom pattern after the moving averages crossed over. Then follow another heavy sell-off with heavy volume before entering a months long trading range.
