Dear New World Investor:

It is very unusual to have

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Dear New World Investor:

The market is overextended to the upside, yet there is so much cash on the sidelines it can’t fall far. So as I said in the Flash Alert earlier today, we are finishing another short-term consolidation that moved sideways in a tight triangle instead of dropping low enough to raise negative sentiment. This is the most powerful way a trend can consolidate, and both the short-term (150 minute) and medium-term (daily) charts are fully congested and ready to move up sharply. That move may be

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Dear New World Investor:

This week’s issue is one day early to allow for my travel schedule to the Money Show at the Marriott in San Fransisco.

As I said in the Flash Alert on Tuesday, I think the S&P 500 wants to do a test back down to 960, with a possible intraday spike down to 912. But time is running out, because this whole downturn should be over by Friday or Monday, Day 30 or 31 of the new 86-day cycle, with the next leg up to September 10 starting then. Many bears who missed the rally are now following Henry Blodget in claiming victory by having stayed out of this “sucker’s rally.” It won’t take much more than one more big drop into options expiration this Friday to get the weekend news stories talking about false rallies, Great Depression comparisons, W-shaped recoveries, increasing unemployment rates, increasing foreclosures – did I miss any other negatives that are widely-known and thoroughly discounted by the markets already?

After breaking 990-995, it is very typical to see a test back up to the breakdown area. The energy for this type of rebound

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The fact that it took so long for the S&P 500 to take a breather is testimony to

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I wanted to get this Flash Alert out today for two reasons. First, the news was

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BioCryst (BCRX) has filed for two Phase III clinical trials for peramivir,

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