A breakout through the highs here could signal a new market upleg.
But beware of one of my favorite axioms. It’s easy for a market to fly through an oft crossed trading range. It’s another thing to break out. If bears hold the line here, then the outlook for a potential selloff over the next few months would still be alive.
For more details on the technical developments as they happened, refer to the next weekly report and those that follow.
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