Major stock indexes, including MDY (which had been lagging) closed at or near all-time highs. This is in line with our forecasts, and suggests that our forecast for strength into yearend is intact. The market appears to be in the early stages of transitioning from domination by growth stocks into value. Consolidation is likely here but our forecast for a UUP move to the 26 area by yearend looks to be on track.
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