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Attached is daily chart of NYSE, which has been considerably stronger than
the NASDAQ, in what looks to me like a terminal rising wedge. The blue line
(very roughly) looks like it has taken enough "hits" to begin failing. The
charts don't have quite the same look as they had in late 1999 and early 2000
but the trading feel is quite similar.
Overall, not much in inter-market relationships to equities which I
like and the fact that both the dollar and gold are rallying suggests something
in that particular relationship is going to break.
Earl
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