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WALL STREET CRAPS STOCK MARKET STRATEGY – OCTOBER 18, 2015

October 18th, 2015

craps front coverSTOCK MARKET STRATEGY FOR OCTOBER 18, 2015: The majority of stock market indices find themselves near their 200-day moving average. Internal breadth indicators are generally in “mid-range” making it possible to go in either direction. The last two months have shown weakness towards the end of the month so don’t be surprised to see a dip as we approach October’s final days. Otherwise, stay neutral and patient waiting for the next set-up.

Key underlying short-term market indicators show the following:

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THE BOTTOM LINE: This is a time to step aside and let the market set itself up for its next big move. Expect a decline into month’s end and a possible buying opportunity if the market can get oversold. Any decline from here is not likely to violate August’s lows and weakness will probably be a good time to get reinvested to the long side.

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