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Market
Selling continues today.
We would need to at least see the CTick move above the IWM trend in order to believe in a possible reversal.
Also, the EV pattern both for oil and for SCO do not look like a bounce might be coming.
I am staying with the short positions for now.
Pascal
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think we have put in the bottom...
utilities are lower on the day, and
bonds should have made new highs considering the trouncing equities took
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I agree that XLU is weak and so is gold.
Market preparing for a slightly bearish stance of the Fed.
20DMF stll looks weak, oil is nowhere ready to bounce (equities negative) and I have a question amrk regarding the 10Y, whihc do not attract much selling.
Anyway, I shorted Treasuries as it was my plan.
Pascal
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