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September 01, 2020 10:10am
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A test of bullish conviction

Mid-week market update: I wrote on the weekend that my monthly MACD model was “On the verge of a long-term buy signal”. The good news is the stock market rose enough on Monday, which was the last day of July, to eke out a buy signal condition.
 

 The bad news is the market is very extended and vulnerable to market weakness. And if this is the start of a pullback, it could be a test of market psychology and bullish conviction. The full post can be found here.
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