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Tuesday was only the 11th time since 1990 that the S&P500 shrugged off a 0.5% intraday loss to close in positive territory three consecutive sessions. Prior occurrences tended to lead to short-term pressure but the number of cases is very small…

If we loosen the filter by only requiring a nearly-positive close (-0.15% or better) we increase the sample size by more than double. Most of the short-term bearish edge disappears but the one-day outlook still retains a negative bias…

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