Looking at the SPY, we have seen a pattern of ebbs and flows while the S&P continues to make a series of higher highs and higher lows. You have to be very careful about initiating new longs at the top end of the range where we are right now, as the market has a very crafty way of pulling back off those highs. In fact, we’re starting to see a bit of that pullback starting in the SPY on the…
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