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Market Comments for August 13, 2014

 

Yesterday the market left a narrow range Doji bar on the daily chart that left a slightly lower low and lower high. Considering the prior day’s bullishness, and support that still exists under yesterdays low, this really didn’t change anything in the technical picture of the market. The same comments will apply, but if today continues to show weakness, that greatly increases the chance that the market has slipped into a sideways trend and we see a continued move down to test the 94.00 area in the QQQ.