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Short Term (lasts a few hours to a
few days): The short term from the last outlook can be
summarized by these 3 points: There is an excess amount of buying volume
generated recently. 2) We expect that the trend will be higher in the near
future. 3) The index will more than likely still be weak. What played out in
today's trading was that the indexes can be said to have trended within a chop
zone (did not trend) and generated large amounts of buying volume as it moved
lower.
The outlook will continue to be similar to what was voiced in the
last outlook. There continues to be the production of buying volume in ample
quantities. The trend has been lower and there is no expectation that it will
immediately move higher instantly but we are due for some retracement in the
near term.
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