A very "bearish" week
The most important ETF in the world suffered one of its ugliest weeks imaginable. It opened higher than last week, carved out a 52-week high, then closed below last week's low. We've looked at these so-called key reversals many times, across markets and time frames, usually with the conclusion that it's pointless to count on single-bar patterns to predict anything. Same goes for this one - the S&P's forward returns were decent, with no major losses to speak of.

