Three charts suggest this rebound rally may falter (via TradingNation)
Stocks are on pace for their best week since June, closing the book on a month plagued with major sell-offs.is up more than 2% this week, cutting down August losses. At its worst, the index had fallen more than 5% this month.
"If you look back at the S&P since the beginning of 2018 when volatility really came back into the picture, there's been a handful of very violent downturns and they've varied in terms of degree of decline and their length. But each one of them really continued until we saw capitulation, and then a positive reversal," Cappelleri said Thursday on CNBC's "Trading Nation.
The market is also mirroring trading patterns seen last year, he added. In October and November, the S&P 500 declined to 2,600, returned to 2,800 twice and then tumbled lower. That set off the major decline to December lows.
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