Update – August 29, 2015

The U.S. stock market had a very sharp rally beginning on Wednesday. I am not quite ready to say that the correction is over. However, the midpoint of the range between the May 20 high and the August 24 low is about 16,800 on the Dow and 2000 on the S&P 500. If we can break above those levels with strength, I would say that a new uptrend has begun.

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