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Update on the downtrend

It’s been a while since I’ve posted my all-clear signal for the April downtrend; as of today we would need to clear 1100, and perhaps make a run for the 200 day moving average at 1111 to throw the bearishness aside. After that, we would need to see “higher highs” go in — in other words, a climb above 1125 posted on June 21st.

Note the previous trend-line I’ve left on the chart, which was broken on June 10-11 in a move that proved to be a fakeout. Although we have never really re-entered that steep channel, we have put in lower-lows on July 1. If you’re a bull, be careful out there!

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