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Awaiting Buy Signals in Short SPY (SH)

If at any point the ProShares Single Levered Short SPY (NYSE: SH) manages to climb above yesterday’s pre-open up-gap high at 57.59, I will get buy signals to be long in anticipation of a powerful countertrend move in the major equity market ETFs. Unless and until that happens, however, the dominant near and intermediate trends will remain down for the SH.

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