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No matter how you try to look at the market, there are warning signs. From copper breaking down to weakness in big technology names, the risk-on trade is under assault. Meanwhile, the big rotation trade some are looking for only materializes for days and then vanishes as quickly as it appears.
The equity market is tired, perhaps worn out. Those messages are being sent all over the market from bonds to commodities, and yes, even stocks. The messages should be listened to clearly, as they suggest the next major leg in the equity market is