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Despite the weakness in the Dow especially, the recent decline has been quite mild. In fact, the Nasdaq is within striking distance of making a new 13-year high — I believe there is a story to be told with this fact. Healthy bull markets continue to make new highs. And making new highs continually is a sign of a bull market. A close above 3150 by the nearby Nasdaq futures contract would indicate another advancing phase.

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What if?

September turns out to be bullish. Is that the trade that puts the most people off base?

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