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Wednesday, March 22, 2017

Market Update 3/22/17

Got our pullback in a powerful wave "c"


$SPX - last weeks target taken out. Wave D should look like a double top, around 2400.  

$GLD - I would not be caught holding gold here. 

Energy holds support. I would be snapping up certain beaten down energy stocks. Window dressing means money managers need to show that they are 100% vested by the end of next week. 

Canada also looks like a good trade. Seeing a broadening bottom pattern... 

The fake news is reporting that financials were hit hardest, but $SOX was the bigger loser, and the $RUT was taken out behind the woodshed, and beaten like a red-headed step child.   

Beware the snap-back rally, AA  

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