Like the 2nd week of July, the short term outlook is overbought with some consolidation or correction to be expected. The first pullback during the 2nd week was within the 2% to 3% as I was anticipating. This current pullback could be the same BUT there's still possibility of a 4% to 5% correction.
Nevertheless the strong rally off the early July bottom has the market internals hinting much higher prices for the medium term...for the coming months.
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