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Seasonally July is a low or high for the season. It can be strong or weak month and if it is weak than we will have a lot of chop and fast moves up down to bottom or top in before the election or around it. We have tiny weakness this week and so we can not call for the top till we have confirmation pattern. Trend is still up.
I wouldn't say I'm pessimistic, realistically defensive if what I would say. I'm bullish over the next 12-18 months, short term Concerned. The Odds are tilting more towards a larger pullback, BUT we are seeing signs of a rotation so as long as the economy holds up we will be just fine
