Posted by Jeff Saut, Raymond James
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The call for this week: The Industrials finally experienced a daily decline of more than 1% for the first time in nearly four months. While many believe this is the beginning of a collapse, it does not appear that way to me. Indeed, the evidence of a major top in the equity markets is nowhere near conclusive. So while it may take a few sessions for the markets to stabilize, I continue to think the path of least resistance remains up.
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