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July 7, 2011

Equity Counts

The continued rally in stocks today has delivered the interpretational nightmare anticipated over the weekend. By eclipsing the May 31 high, we know for sure that June 16 marked at least a daily cycle low. As previously labeled, we had a daily cycle low forming on May 25 with the cycle failing 5 days later. However, a failed cycle cannot return to a new high, so ...

 

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