Monster Up Days

Monster up days in the stock market, like today, are signs of a bear market. In the past 3 months, we've had four days of >2.5% gains on the Dow.

May 10: 3.8%
May 27: 2.8%
Jun 10: 2.7%
Jul 07: 2.8%

These events restore just enough confidence periodically to engender a sense of complacency before the next leg down.

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Three steps forward, two back

Or in this case, two steps upward, three steps down is the plan.