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Friday Outlook: Watching Paint Dry

In the broad market, I think what you are looking at is an intermediate term uptrend as we hover around our 50 day MA, but absolutely we still have a LT downtrend in stocks. I don't see how stocks could be higher one year out (give or take), since the consumer is no where to be found (stores are empty), home prices are falling, and the consumer is 70% of our GDP (itself a national disgrace).