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May 27, 2010

Stocks Launch, Gold Loiters

I'd have to say that today's 40-handle rally on the S&P 500 swung the odds significantly toward having just left an intermediate cycle low in the dust. Such launches are typical of intermediate bottoms. Final confirmation will come with a move above SPX 1175, and if the SPX manages a new cyclical bull high, we will be forced to ...


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