• We remain concerned about how well the stock market can hold up over the longer-term…given the slowing economy.  However, this week’s action has been quite positive…and it will bode well for the short-term if it can hold up through next week.
  • We’re still concerned that the chip stocks continue to lag (which they did again yesterday).  So, we are certainly not sending up an “all clear” signal.  We’re just saying that although the Fed rate decision next week will be key, the action in this group will still be extremely important going forward.  This group’s performance needs to improve.

 

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