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Copper breaks out while Crude nears initial upside target

Markets have entered a window for potential short-term trend change, but might very well prove short-lived and not undercut 4500 right away.  8/7-8/9 looks important for a possible turn.  Ultimately, I expect an August decline down to 4350-4400 before SPX gets over 4650, making upside limited.

Recent stalling out in US Equities likely will result in upcoming consolidation.  Yet, until SPX-4500 is broken, it’s tough p...

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