The market finished flat for the week but we may have seen some signs of a crack in the rally. The chart below shows just how over extended this market is. A pull back to the 50 Day Moving Average (DMA) line should be imminent. We’re looking for a correction down to the 200DMA over the next few months before a final thrust to new highs going into late 2017 and early 2018.
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Have a great week!