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Strategies & Market Trends : General market lab and commentary

SPY 683.38

+0.1%

Nov 12 4:00 PM EST

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From: Robohogs	4/26/2016 5:47:57 AM
	of 668

Fear headlines out in force. OMG. The negative divergences coming off the momentum indicators. Of course we get them. The upthrust was historic and no next move can match. But the mkt does look tired, sepite no revisits to the 200 SMA, much less 50 SMA. Historic thrusts often result in large givebacks once momentum wanes and that takes time. But headlines are equating this to the coming January repeat. Could be. Not impossible. Somehow, I think not but the next 5% is more likely down than up IMHO. Or we might very possibly wander in this No Man's Land. I seriously doubt we just start vaulting higher though. New highs are highly possible still, either before after a modest correction. I was buying yesterday though as fear too rampant for a super big down to develop. Nice non-fear article here. finance.yahoo.com Jon

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