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January 27, 2014

Gold and Oil Cycles Face Key Levels

Friday's Nasdaq short delivered some instant gratification as the NDX fell nearly a percent versus the half percent drop by the S&P 500. I suspect the NDX will continue to outperform... to the downside... as the intermediate equity cycle decline plays out. The equity decline also appears to be pressuring other assets. Both gold and oil were weak today. Of course, a one day correlation could be purely coincidental, but if ...

 

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