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June 2, 2010

Filler Action

Tonight's letter will be brief since nothing with regard to our outlook has changed in any significant way. Stocks did what they needed to do to keep the intermediate bottom in play. Today's 2.6% rally transpired on what could be Day 5 of a new daily cycle, and the strong action fits with the typical behavior of a new intermediate cycle. A weekly swing low would certainly ...

 

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