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From JC: bullish

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Making the point that 'sentiment' is bearish.

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But that credit and defensives are not confirming.

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Commodity bull market

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LLY is a short on confirmation, a break below the support.

Can the market be wrong?

Absolutely. It is all the time.

The last couple of big breaks that we have had, 2020 and 2009 (started in late 2008) have both been really fast. If (when) this market breaks, it will likely be really fast, it won't be a slow sort of bear like 2000.

It will be fast and come out of 'nowhere'.

But for the moment, it's a bull and we move higher.

jog on

duc