From Charles Nenner Research, he is the guy has many hedge fund connections
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The markets took out the Wave 4 Fibonacci retracement levels, which means that they are in a uptrend
Short term cycles bottomed
A close for the S&P above 1318 and Nasdaq above 2331 will be a buy signal
We still feel that a more important high is forming
However, short term, we want to buy the QQQ, once we see a close above 57
Also, we continue to be long the EEM and will now put a sell stop around 46.50 (close)
All through the correction, the EEM behaved well
We want to take profit around 49.90
We are also long Apple, with a sell stop at 345 (close only) |