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December 11, 2013

Stocks Set to Decline Further

And the Mother of All Triangles

A question was posed in yesterday's letter regarding the configuration of the daily equity cycle. Did stocks set a cycle low on 4-Dec or was a final leg down in the works? A break to a new high would set 4-Dec as Day 39 low, whereas a break below the 4-Dec low would keep the cycle decline in play. Today's drop, while dramatic, accomplished neither of those tasks ...

 

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