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My NYSE model swung to a buy on Thursday ... looking for a little
pullback here followed by run to SP 1450 ... then we will see if new
highs are in the cards or a swing failure into bear market. From
watching my relative strength models, I am getting a sense that value
stocks _may_ start running ... this is not yet a trend and it could
quickly run out of steam as we close in on 1450. DJ appears to be in a
w.4 rally which should mean new lows ahead. DT is in terrible shape with
repeated failure swings into new lows and DU is close to putting in a
new swing low. Bonds appear good for a decline into month-end around
92-22.
Earl
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