Textbooks Are For Losers

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Major indexes have put in a textbook like bounce off their 50-day moving averages.

We’re still suspicious of any sustainability to the rally. We could easily see new highs, but broad participation and solid leadership will need to be present before we reverse on our pullblack/correction prediction.¬†Outlook for the year is still bullish.

Tops are often processes. Stay tuned. 

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