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S&P 500 correction continues, likely a flat pattern signaling strength and a rally ahead.

Market News
17 Jul 2026
Seeking Alpha
View Source
Neutral
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The S&P 500 is still in a correction phase following its April gains, with the correction expected to extend into August. Analyst Michael James McDonald anticipates a flat correction pattern, which typically indicates underlying market strength and a strong rally afterward. Investor sentiment, especially rising bearishness and put buying, is key to understanding the correction's depth. Current sentiment data suggest the correction is not yet complete, implying cautious investor behavior before a potential market rebound.

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