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[Macro Speculator]

I still don't have the key sell signal I've been looking for but there's enough here to probably see more downside over the next week. I'm still not expecting this to be a major move down yet (i.e 100 points plus) , so if we see 1290-1300ish again I will probably cover again and wait and see. But this is too steep a selloff to be ignored...it's providing more and more evidence that the overall upward trend has stalled and could be turning down over the coming months. don't forget we were at higher levels than here in February...one could argue the intermediate trend is actually down now, and that the longer term trend is turning neutral.