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‘Wild Week’ Starts with a Thud

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The usual experts were predicting a wild week on Wall Street, but a few more days like Monday and traders could fall into a trance. The Dow was off a measly 104 points, although it seemed more boring than that because the loss developed an inch at a time.  Everyone supposedly is waiting to see whether Trump will impose another layer of tariffs on Chinese goods next week. We’d bet heavily against it, but that doesn’t necessarily mean the President won’t feint one way and then the other a half-dozen times before he announces the good news. AAPL, the #1 bellwether for the bull market, looked leaden and probably held back buyers of other stocks in the lunatic sector. Only GOOG and TSLA were up on the day, presumably because bears were still dizzy from a nasty bout of short-covering on Friday.  AAPL remains the stock to watch, and it looks like it will need to go a bit lower to attract some bottom-fishing. Bears had better be ready to leap aside, however, when DaBoyz make a run for the $283 Hidden Pivot target we’ve been using since before Halloween.

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