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The S&P 500, after rebounding from its 40-month moving average is now enjoying a bear market rally. The potential upside target is the 200-day moving average. In 6 historical bear markets and others, the market rallied up to its 200-day moving average before declining too much lower levels. The average time during the bear market when the S&P tested its 200-day moving average was 7 months in. I did not yet calculate the market downside after those tests.
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