It sure looks like a consolidation. Wouldn’t it be something if it broke down! To mean anything, it would need to take out 3365. Otherwise, an uptrend dating from August 4 would still be intact.
The longer intermediate cycles say that the market is heading much higher. Shorter cycles point to more limited upside. But the whole shebang is fragile as hell. Here’s what to look for, along with some interesting chart picks on both the long and short side.
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