I agree with your implied thinking here (by going to 70% cash). If the market cannot break above recent intra-day highs soon and put together a rally, the path of least resistance is down again. I was thinking that the market was oversold enough for them to rally it into the State of the Union and a bit beyond, but it looks like they are having a lot of trouble finding the gas pedal. The shorts are not easily scared at the moment.
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