As often happens during the deepest corrections, we had a series of Spike Bounce signals: three strong ones in 15 trading days.
After the first two SBs, FGIC continued to decline down to -11, a panic level reached in the last two years only at the end of the pandemic selloff. But after the last SB on Wednesday, FGIC made a tick to the upside: a confirmation signal.
If FGIC’s rise continues this week, it will signal if not the end of this correction, at least a prolonged, multiweek rally.
