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March 29, 2014

An April peak for Equities?

Stocks bounced Friday, forming a swing low and potentially setting up a move into a new daily cycle. A swing is a prerequisite, but not a guarantee of a new cycle, however, and stocks still have 10 days to find a low within their normal timing band. Furthermore, the preceding close below the upper TrendBand was marginal, so not a lot of confidence can be put in the move back above the UB. Once possible scenario into which the action over the past two weeks may be leading is as follows ...

 

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