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WALL STREET CRAPS STOCK MARKET OBSERVATIONS FOR JUNE 27, 2014

June 28th, 2014

craps front coverSTOCK MARKET OBSERVATIONS FOR June 27, 2014: The stock market is hovering around its all-time highs, chewing up time and setting itself up for its next big move. With neutral readings in many internal indicators, the stock market could still go either way. At a time like this, it is important to stay neutral and unbiased in one’s market opinion. Other indicators like the SentimenTrader.com’s Long-Term reading shows that we are in “Excessive Optimism” territory with a reading of 70 out of 100. The Equity-Only Put/Call Ratio is also very close to issuing a “sell signal” after a gradual decline into that reading. All of this adds up to a possible tricky retest of the old highs with a top in mid-July of importance. So most of all, don’t get too complacent!

Key underlying market indicators show the following

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My advice for traders and investors is to be largely in cash while the market sets itself up for its next big move. The market could go in either direction, but I think that the upside is already stretched and limited. But the forming of a top here, still takes more time and fake-outs before declining with any significance. Be on the lookout for a big move beginning in mid-July.

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