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Dow Jones Industrial Average: Evening Report

  • The market is in a short-term uptrend based on peaks & troughs analysis on the hourly chart. I expect a corrective wave tomorrow, which would mean back and forth trading between negative and positive.
  • The debt crisis in Europe remains unsolved and a recession is still expected in 2012. Fundamentally, based on macro analysis, I expect systemic risk to drive investing. 
  • We'll see what the trend is tomorrow and what EU leaders have to say about their plans for solving the debt crisis.   

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