6 months have passed since I identified the start of this bull run in the global stock markets, (see previous posts).
I believe that Friday's reversal in the major U.S. stock indices was the beginning of a short term 6-9 % correction. It's likely it will be similar to the correction of last year, a drop to the area around the weekly 34 EMA around 1 200 on the S & P 500, as illustrated below. From there, the bull market will continue higher.
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