A few days ago we postulated that many markets had the overall look of being in a 5th wave ending diagonal. If the recent low can't be broken quickly that is becoming more and more a possibility. If that's the case then we could be setting up for a move to a new high if this low holds. Albeit, it'll be a terminal high. Either way, the near term action will determine what we should do. Let the market show its hand. Mark
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