Technical Tuesday - June 5, 2018
The Nasdaq Composite is once again testing its long-term target area of 7700 and we are monitoring this level for a potential breakout or reversal. What we don’t have in most of the U.S. market indices is the distributive tops as we have in Europe and EM. Brazil continues to deteriorate, and we feel our downside targets will be achieved in the weeks to come. WTI Crude Oil and Gold have held support on the recent pullback and we would be a buyer of both right here.
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