The market barely held Thursday. The GMI remains at +6 and there were 141 new highs Thursday. About one half of the Dow 30 and S&P 500 stocks advanced along with 39% of the Nasdaq 100 stocks. Market internals weakened slightly. We may have to wait until after the Fed meeting next week for the market to reveal its true trend. Right now, I have reduced my long positions and retain my puts on SBUX. This is not the type of market on which to place a huge bet either way.
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