Much needed relief

Posted by Jeff Greenblatt - Lucas Wave International

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frank12151509Incredibly oversold markets finally got some relief last week. By the time we got to last week’s update, world markets were already due for a relief rally.

What they got after the Friday drubbing finally could be classified as that “other shoe” on Wednesday that gave markets the feel they were going down and never coming back. The VIX got above 30, and the other shoe is the kind of thing markets need for an important turn.

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