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Seems to be relatively little talk of the market topping action occurring
the past two weeks.
Looking at a weekly candlestick chart shows two reversal candles with no
change in prices.
Using Worden Brothers TC2000 on SPY. Distribution shows up on both daily
and weekly charts.
Nature's Pulse weekly on S&P using important pivots back to 1979 (using
various multipliers) shows weeks ending 7/12 and 7/19 as pivots.
Looks like we'll break the trend line going back to 4/14 on Monday. Already
broken on the SPY chart.
Be Careful.
Stuart
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