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Also I don’t know if many people have realized this over time, but typically on weekly and monthly closes, when we’re in a downtrend, bulls fight for a strong close that eventually turns into a fakeout above a key level before price continues lower.
Right now though, what I’m seeing is that we’re getting close to the end of the month and the ones trying to secure a good close under 75/74k are the bears not the bulls. Which means bears will end up getting the fakeout this time because we’re actually in an uptrend.