Many are worried about new lows coming right away for the stock market. We think that the S & P is retracing the 300 gains from the May 17th low and will hold 3740 on S & P can and then have a strong rally of another 300 S & P points the week of July 4-11th. This may be the last point to exit stocks as the week of July 11-15 looks down hard and we worry about difficult cycles into early August sending the stock market deeply lower into September and possibly for many months.
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