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May 22 2012

no difference of opinion

The market started the day nicely climbing in the first few hours … with the SP500 up almost 1% at one point, but by the close of day all the gains were stripped away and we close the day flat.

Volume on the climb up was again … lacking. 

So far my analysis has definitely not changed over the past few days, the bulls seem to show little interest in driving this market higher.

The latest rally attempt is continuing to look like a bounce and not a rally.  That is … a bounce to eventually be undercut once the shorts get aggressive again.

Protect your capital, it is looking like we have another leg down coming soon.

Not a very convincing stock market rally today reassuring action today

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About Author

Randall Mauro

Randall Mauro

Randall Mauro is the founder and Chief Investment Officer for Resnn Investments. He is a Registered Investment Advisor, registered with the SEC’s Financial Industry Regulatory Authority (CRD number: 6105715) as well as the Colorado Division of Securities.

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