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I could go through a laundry list of pros and cons when evaluating the stock market today, but that's not necessary today. Sometimes the market gives us clearly defined risk levels and "signs" that make analysis not easy… but very simple. Today is one of those days.
The way I see it, if the market is above the horizontal red, dashed line below (which represents the February highs from earlier this year), then I think we have a green light from a trend-following perspective. However, if the market is below that level, then the breakout