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Weekly Outlook, 10-8

|Includes: American Pacific Corporation (APFC), MFA, SPY

 This week's market action showed continue bullishness. At this point I'll be looking for a top somewhere between $SPX=1090 and 1230, each of which have their own technical implications. Overall, it seems that this top will be somewhere in the range of the last one, which could set the stage for a big double-top formation leading to a large downturn.

American Pacific is having trouble breaking above the 50-day EMA, but I'm still bullish on it longer-term. MFA is working on a longer-term base. In the mean time it plays a huge dividend.
I'm still bullish on the overall market, but I've set a time frame for the bullishness. It's not going to last indefinitely.


Disclosure: Long APFC, MFA