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WALL STREET CRAPS STOCK MARKET STRATEGY SEPTEMBER 10, 2017

September 10th, 2017

craps front coverSTOCK MARKET STRATEGY FOR SEPTEMBER 10, 2017: The stock market is in a sort of “no-man’s land” right now. Last week, it was in an “overbought” area and now it may be tracing out a pattern across its price range towards an “oversold” condition. With all of the internal indicators showing “neutral” readings, there is plenty of room for the market to go in either direction. But we are in the time of year when tops and bottoms can form, it would be prudent to play it safely right now and wait for a better opportunity to take shape in the coming weeks.

Key underlying short-term timing indicators show the following:

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THE BOTTOM LINE: The Fear/Greed Index is currently reading “Fear” after being in the “neutral” range for a few days. I wouldn’t be surprised to see this index go back into the “Extreme Fear” range before finally hitting the bottom of this sideways correction. There isn’t any immediate action that needs to take place right now. This is a time to build cash reserves in anticipation of a better buying opportunity in the coming weeks.

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