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August 17, 2020

8/17/2020

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macro monday

Our Macro-Monday analysis once again points to a very bullish market. While we are seeing  strong sector breadth, we are also cautious of a market that has had quite a run.  As we noted in today's video the bull bear ratio of the SPY near 3.0 is typically where we some sort of retracement or consolidation.  WE are also approaching a confluence of potential technical hurdles, including all time highs that happen to coincide with the underside of a long-term diagonal uptrend. WE are cautiously bullish, and would be looking for opportunities to acquire oversold names and sectors that have been outperforming. 
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