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November 3, 2014

First Precursor In Place

Today's action was rather drab, and the only notable action was the S&P's successful effort to set a marginal, new bull market high, fulfilling its duty to set a higher high following a RT intermediate cycle. A new high is one of the precursors we were seeking to a failed and left-translated cycle. However, a new high does not confirm our framework and is not an actionable event. The next element needed to progress the expectation for ...

 

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