Highlights
- Those who have been short-term tactically bullish are now in the crosshairs of broken long-term structure.
- We have stressed that short-term strength would be noise if no repair work was done to fix what was broken in April.
- While the momentum of the short-term rally has yet to really show fatigue, it has also yet to improve the big picture.
- With the US debt downgrade, this leaves the market in a precarious spot, one where downside risk can. . .
