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ERM Conclusions, Staying Bullish, Keep the Barbell

While the U.S. equity market continues to trade sideways and has been unable to make a new high since peaking on June 8th, our tools and key indicators remain bullish.

I initially turned bullish on the U.S., equity markets in late March subsequent to our key tactical indicators flipping back to favorable. Since then, I have been quite consistent and vocal about our constructive outlook and our main conclusions remain as follows:

Despite the possibility of short-term consolidation/pullbacks, I am c...

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