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Because technical analysis don't work

SPX Tech analysis by Simon Kazinsky on 14:22 February 21, 2019 EST

The SP500 index has tested for fourth time the upper side of the trend channel.

The index has been up for eight straight lines and has posted a neck breaking gain of more than 15% from the late December lows.

Other indexes are also approaching major medium term resistances so the likelihood of at least a correction and perhaps the continuation of the downtrend are increasing.