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Tears for Bears: the market that just can’t be beat down

With today’s rebound (itself a miniature melt-up from first hour lows) the SPX has now spent 31 trading days, or if you prefer, 44 calendar days, without dipping below 30 on the RSI (2) indicator — a feat that is pretty much strength personified:

Another view that shows the amazing spring strength of 2010:

Gotta go all the way back to Lincoln’s Birthday on Feb. 12th to find a close under the 10 day moving average; surely enough ammo to bring down the strongest bear!

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