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Market Tracker, 6-29

|Includes: LPHI, SPDR S&P 500 Trust ETF (SPY)

      Today was a surprise. The market gapped down hard this morning and continued the slide throughout the day. It broke through support at $SPX=1050 on high volume. For now, the market doesn't appear to be trending. However, today was a very bearish sign. If the market breaks up back up above 1050 in the next few days, I will re-enter long positions. For now, I'm waiting. This may be well be a false breakout downwards. It only shows up on the S&P 500 & Nasdaq Composite charts. The Dow & Russell both show breakouts down to the support levels.  

Disclosure: Long LPHI