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Bearish Sentiment Heats Up

By The Chartman FOXBusiness

I suppose my fears from last week were justified, but it took the last 30 minutes of Friday for my bearishness to be realized.

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Granted, before that the market was just kind of limping along, but the final few minutes saw a 100 point selloff.  Ouch.

So, if I was leaning to the bear side last week, this week did nothing to change my mind.  Call me worried, only more so.

On days like Friday, I always look to see what’s actually going up, and noting if those are current or future buys.

I can’t recommend anything right now, but Amazon (AMZN) looks nice if it moves just a little higher.

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HSN (HSNI) is in the same boat.  It was relatively strong Friday, and if it has one more good close, I’d rate it as a buy.

I’m off next week, so maybe that’s the chart to break this down market.  Back in 2 weeks with – hopefully – some good news.

What do you think?

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