Wed 4:36 PM – Flat Market Today is a Victory

European markets sold off today after surging yesterday. US markets dropped in the AM but came back to finish flat. That’s relative out-performance and is a good sign.

Gold, oil and bonds were all up slightly.

Right now there are converging trendlines – the intermediate trend is down but the short-term trend is up. We are at a resistance point and it may take some work to move higher short-term.

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