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No Great Expectations

The slight pullback on Friday did no material damage. Cycle projections still point to 2134-2155 for cycles up to 6 months, which highs due between now and late June. From that perspective the upside from here looks to be very limited, if any. SPX would need to drop below 2113 to signal that the top of this swing is probably in. But what about after that? Here’s what to look for.

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