The S&P 500 ETF Trust (NYSE:SPY) was plunging on Friday to end another bearish week in the markets.
The SPY has closed each of the last seven weeks lower than the previous week, creating seven red weekly candlesticks in a row — an event that rarely occurs. In the history of the market, multiple consecutive bearish weeks are often followed by a bullish reversal, at least temporarily, to the upside.
