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Friday
Mar122010

This One Goes To Eleven? The Spinal Tap Rally

While the S&P 500 is up in nine of the last ten days, the ETF that tracks the index (SPY) is now up ten days in a row.  Since SPY started trading back in 1993, there has only been one other period where the ETF was up more than ten straight days.  That streak came in September 1995, when SPY had twelve straight up days in a row.  This morning, pre-market futures are trading nearly half a percent higher on stronger than expected retail sales.  In the words of Nigel Tufnel from Spinal Tap, will this one go to eleven?

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