Markets Need A Breather
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Markets had a good day on Monday on low volume to start a holiday-shortened trading week, pushing into three standard deviations from the 50-DMA. While that's not a huge bear flag, markets just overbought at this point, typically this will be followed by some type of pullback. There is presently a big gap between the 50- and 20-DMA, but the 20- is about to cross above the 50-DMA, providing bullish support for markets. Money flow indicators are about to flip to negative, for another indication of a market peak. This could be the setup for a year-end rally, and where that rally might take us is anyone's guess.
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