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Still Waiting

I am still waiting for a clear trendline break.  The trendline break has now moved up to 837 on the S&P.  A break in the trendline should happen soon, but I am getting tired of waiting.  The bulls are getting bold at this point in the rally, so that sets up a protracted downturn somewhere in the near future.  Nobody is now predicting a quick return to the lows, and that is just when it happens.  Stay alert and be watching a break below 838.  By end of the week, the trendline break will be at 840 S&P.  Market might be making a run to the 200 day MA, but at its current level, it has no value.  PE's on the S&P are now at 16, and are at 18 on the NASDAQ - not exactly value multiples.&...