• The “buy the dip” crowd is beginning to have a tough time of it as we move through the month August.  The late-day sell-offs we’ve seen recently have not been enough to say the trend has changed, but it is exposing a few cracks in this rally.
  • The S&P 500 and the NDX Nasdaq 100 are now standing where they did 6-8 weeks ago.  We’ve also seen most global stock markets do nothing for an even longer period of time.  Therefore, there is little question that that the global stock markets have lost a lot of their upside momentum.
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