A little perspective: the comp is lower than it was in Jan 1997. Just by a little. IMHO, it is willing to wait for fa improvement, but I was apparently wrong that it would even trade up a little more in anticipation. I still think that from what I hear from sources that have been reliable most of the time, there is indeed a lot of pent up demand for it equipment and we should see a pop starting at any time.
If there is no fa improvement, well, I will be mystified. It won't be the first time, or even the 20th time.
In the end, I will move in and out based on my intermediate ta indicators.
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