Yesterday $spx closed above its 20 day ema for the 32nd time. We have rallied over 100 points, but to put this move into context with the other rallies since the central banks have been intervening in markets (since 2009 lows) we have had runs of 49, 57, 54 and 50 consecutive sessions where the $spx hasn't traded below its 20 day EMA for more than one session.
Whilst it seems overdone and due for a retrace, the above numbers show these rallies can last longer than expected.
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