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Treasury Throws a Wrench Into QE-Infinity

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Last minute Treasury auction could create a liquidity issue.

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Finally, the bullish wave count remains on its last leg here, and as I've noted in past updates, I do not recommend front-running a turn with the market in this position, unless you are an extremely nimble trader. The path of least resistance remains down.


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In conclusion, while the market is quite oversold and in a support zone -- and those conditions can lead to a rally at the drop of a hat – but for those exact same reasons, this could be viewed as a market perched on the edge of a cliff. Bulls need to start backing away from the edge, or risk tumbling over. Trade safe.

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No positions in stocks mentioned.
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