Zeev, how do you see a serious market drop on the horizon with M3 exploding, a normal yield curve and next year's election on the horizon...? While I can't argue with a seasonal strain in September and (maybe)October, the market continues to demonstrate good breadth and reasonable leadership...(without expanding new lows)....
I'm having trouble envisioning the conditions for the kind of severe correction you are calling for any time soon....
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