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Actionable news in QQQ: PowerShares QQQ Trust, Series 1,

The S&P did something it hasn’t since 2008 — and it could be a bad sign for stocks

The S&P 500 just experienced two "inside weeks" in a row for the first time since February 2008, an indication that the market may be in for a major breakdown or breakout in the weeks ahead.

An "inside week" is a technical term meaning that the market's high in a given week is lower than its high in the prior week, while its low that week is higher than its low in the prior week. In other words, during an inside week, the market does not trade at a single level at which it did not also trade in the week before.

Inside weeks are unusual, but two inside weeks in a row is rare indeed. The last time the market created such a Russian-doll-like trading pattern was in February 2008; the two prior occurrences were in...