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TLT & SPX three higher lows as of Friday, suggesting a down day for stocks on Monday. Only 24 out of 76 (32%) led to a higher S&P500 close one session later vs. 53% random odds…

But on the plus side, SPX 3-day historical volatility closed at a low 0.89. That’s bullish, especially looking out a couple of weeks. See this June 24th note for more on readings under 1.5 (1% moves 26-1 two weeks out). Below is a look at all readings under 1.0…

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