mmm,,, breakout is a breakout. Ok,,, it needs to hold that for a week or two to be significant medium long term.
Short retrace to support is common (normal?) . 2070 it is.. The fact that it broke out showed some weakness in selling at the resistance point... TA says that's a good sign for us.. short term yes,,, but it broke through resistance.
I know what your cycle guys says, too, but don't discount the significance of a short term breakout on the fundies, and Bloomberg terminal alerts.. (and mainstream media nuts)
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