Heavily Wrapped

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Bull be warned with price action coiled and ready to be unwound.

Multiple distribution days say funds are unloading. Friday’s mild sell off on heavy volume is a likely prelude to more downside.

Major indexes are decisively below their 50-day averages. Key, trend making sectors of Transportation ($TRAN) and Banks ($BKX) have followed suit.

BUT, it’s still a bullish scene with Retail ($RLX) and Biotech ($BTK) at highs.

That’s what it is.

 

 

 

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