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July 29, 2013

Struggle at the Top

For the first time in three days, stocks ended on a weak note. Since I am carrying a bearish bias at the moment, assuming that a weak close justifies my short position offers a tempting seduction, but an objective view must still consider that the two previous session closed strongly. So at the moment, we can simply recognize a tenacious tug-of-war underway between bulls and bears. Only a daily cycle trend line break suggests the bears will ultimately win the struggle, but the result is ...

 

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