McClaren makes sense. He's stating a fairly obvious consensus. If we turn back at broken support at about 1380 and successfully re-test the Jan 22 lows, we've probably put in a good bottom for a number of weeks. It would be a lot like the April 2001 bottom.
But even if he turns out to be right, it's kind of ridiculous to make absolute statements like "This current rally will not run past 12 trading days." Who sold him his goat entrails?
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