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Is Market Correcting Without Correcting Or Quietly Weakening Before It Collapses?

As long as the market remains above intermediate trendlines and moving averages, I have to give less weight to cycle indicators which have given false sell signals time and again. I guess this is just another way of saying, “The trend is your friend.” As long as that’s the case, I must give credence to short term projections of 1425-35 and longer term projections that are even higher and look eminently doable.

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S&P 500 Chart
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