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I’m keeping it short tonight.
The market pushed ever higher today, but I’m not so sure the bulls can call it a victory just yet.
Yes, we are watching lifetime highs in the IWM, but we are also hitting short-term overbought readings with an enormous unclosed gap underneath…a recipe for bearish success. (more…)
It seems that a deal on the budget and the debt ceiling that will cover the next few months is likely to be done this week. That will be a relief as this news-heavy environment hasn’t been making calling direction easy. After a deal is done hopefully we’ll see a return to just the usual fedwatching and earnings. (more…)
