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April 19, 2012

Waiting for a Break

Markets can't seem to catch a break these days. We are still waiting for the dollar to either break to a new high or break below the last daily cycle low. The stock market is behaving equally indecisively by waffling between a renewed rally that will break above the recent high or a break below the 65DMA, leading to completion of an intermediate decline. Until something gives way ...

 

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