I have been patiently waiting for the market to pull back before investing in equities. The market has declined for two straight days. Today's decline was different in that all asset classes pulled back in unison, stocks, bonds, commodities. Due this fact, I believe we will see selling continue tomorrow. The market has been very overbought and due for break.
The market is still in an intermediate uptrend and countertrend pullbacks are normal. Until proven otherwise, I will view a pullback as a buying opportunity. If it proves to be more than a short and orderly decline I will have to reaccess the situation.
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