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January 29, 2014

Stocks Near Failed Cycle

Wednesday saw no surprises as stocks slipped again, nearing a failed cycle state, while the FOMC delivered another $10B taper announcement. Last month I noted we would not see the effects of the initial taper until the reduction actually took place in January. Stocks are now down about 4% for the month with the bulk of the losses transpiring in the last five sessions. Once the Fed's counterfeiting machine slows again next month, I expect an intermediate cycle decline to ...


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