We continue to advocate holding to firm weightings to small and mid cap, but would become progressively more cautious on mid and small cap should MDY move below 230, and should IJR move below 98, in a correction. Bonds have digested some of the short-term overbought readings, and while they should consolidate a bit, and TLT could test 104, this market seems poised to rally again in March if not before. Gold has broken out of the Head and Shoulders bottom on the daily charts, and this move has been confirmed by silver.
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