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Not a whole lot happening in fhe financials in the way of major new
trends, just continuing range bound consolidation.
Equities: continued bearish divergence in NASDAQ breadth models, NYSE
weekly and daily breadth models looking quite healthy although somewhat
extended from the perspective of an attempted breakout. Am noticing what
appears to be an early shift from growth to value in the big caps,
however this may be just another rotational shift within the trading
range.
Bonds: still bound in repetitive cup and handle formations in all time
frames from daily to 10 minute. My current trading bias is to long side.
Currencies: US$ seems to be having some trouble mounting a recovery
rally. AGet daily, weekly, monthly suggesting that the US$ top is in or
possible double top.
Earl
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