The chart below shows weekly Heikin-Ashi Candlesticks, which combine price action from two weeks to form a composite candlestick. As of this week, SPY formed nine white (hollow) Heikin-Ashi Candlesticks in a row and shows no weakness. The first long black candlestick would suggest that a corrective period is starting. You can read more on Heikin-Ashi Candlesticks in our ChartSchool.
Click this image for a live chart.
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