Are Stocks Peaking?

Here’s an interesting chart from Nomura’s Technical Strategist showing how there seems to be a nearly a perfect 14 session cycle between peaks. It looks to me like some of the peaks are VERY short-lived but nonetheless it is an interesting chart with a pattern that’s worth keeping in mind because it suggests that stocks are due for a deeper correction.

What do you make of this?

forex blog Kathy Lien S&P Stock Market

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