• The action over the past two days suggests that the “rotation” we had seen in the marketplace over the previous three trading days may already be coming to an end…as pretty much everything is now declining in tandem.  (It was wild how the “rotation” theme had become SO widespread after three days as it is, so it’s not a big surprise to us that it is already showing signs of fading.
  • We have another chart this morning which shows that a key leadership group is showing signs that it is rolling over.  So, if it sees much more weakness over the coming days and weeks, it will raise a big warning flag. 

 

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