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WALL STREET CRAPS STOCK MARKET STRATEGY JULY 12, 2020

July 12th, 2020

craps front coverSTOCK MARKET STRATEGY FOR JULY 12, 2020: The stock market is near the top of its trading range. After a large gap down last month, the market has held its own for a few weeks now. The question is whether the market will fill that gap soon or head down from here. In any case, it does not appear that a new All-Time High is likely or if it does reach a new high – that will mark the end of the rally since March 23rd.

Key underlying short-term timing indicators show the following:

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THE BOTTOM LINE: The stock market’s internal indicators are reading “neutral.” This means that it could go either way from here. The move that I think may happen is a new closing high to fill the June gap, but that high marking the top of this move since March 23rd.

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