The bulls again used the ropa-dope tactics to grind down those big bad beefer bears at a new high level [cf my May 22 post]. The S&P 500 closed a second consecutive day over the old high, confirming the break up had real buyers, and not just lots of beefer mo.
As pointed out before, the 100 year wall charts show that breaks up out of long bases often foretell huge bull markets - see 1923-4, 194950 and 1982.
"The Trend is Your Friend"
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