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>>> The call for this week <<<
By: Jeffrey Saut | August 20, 2018

Last Thursday we did a 20 minute segment on CNBC from the floor of the NYSE. Our message was pretty clear in that our models “said” to raise some cash in January and put at least some of that cash back to work at the February 9, 2018 “undercut low,” in expectation of new all-time highs in the months ahead. More recently we looked for weakness early last week that would be contained in the 2790 – 2800 level on the SPX, which should be bought. Over the past number of weeks we have tried two times to trade out to new all-time highs. As stated, typically the first few attempts to do so tend to fail. However, on their third attempt new highs typically are achieved. The energy models are all “charged up” as the equity markets enter an upcoming bullish time period. This implies the potential for a strong upside breakout this week. With short-sellers having major stop-loss “buy orders” just above the all-times highs, the stage is set for them to get “blown out” with a sudden rush to new all-time highs. The question then becomes, “Is this an upside breakout, or an upside fake-out?!” We think it will be a breakout as the specialists’ stop-loss “order book” gets cleared out.

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