Six years and a point apart

The surprising day-to-day correlation between SPY in 2004 and SPY in 2010 continues.  The 21-September closing values were 112.96 (2004), and 113.98 (2010)—not exactly a rousing endorsement of buy-and-hold strategies. This year’s SPY has traded below the old SPY line since mid August, but it just crossed over, challenging the top 2004 trendline (see below).    It appears that the scary months of September and …

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