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WALL STREET CRAPS STOCK MARKET STRATEGY – MAY 28, 2016

May 28th, 2016

craps front coverSTOCK MARKET STRATEGY FOR MAY 28, 2016: The stock market recovered 3 weeks worth of correction in just 2 days! But now it is reaching overbought levels which puts a lid on further advances for the time being. But after a short, mild, or sideways correction, a move to new highs is very possible. Perhaps it has more to do with time than price. By that I mean, that the market needs a week to correct its move and it doesn’t matter how many points it goes down. What matters is that a buying opportunity is likely during the second week of June and it would be wise to prepare for it.

Key underlying short-term market indicators show the following:

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THE BOTTOM LINE: The stock market needs a breather. The upside is limited from here as the internal indicators are near or at overbought levels. But after some time spent going down or sideways, there might be a good entry point to ride this market to new highs. Be prepared for a buying opportunity during the second week of June.

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