Deteriorating technical action (see our recent posts) manifested itself into a correction. At this time price does not confirm a new downtrend (only a correction to watch carefully). 980 on SPX and 1930 on Nasdaq are keey support levels to watch. As the potential that the recent decline is a correction and the uptrend is sustained, we will be seeking stong, basing stocks to add once the dust clears.
Current Market Tour
Current Market Tour
The Dollar looks particularly interesting at this juncture. Long Dollar, Short Commodities may be the current high reward-risk trade.
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