Everyone who has paid attention to these updates over the last couple weeks knows that Don feels we are at or near the end of the current increase in prices. Yesterday's price action seems to confirm his thoughts. The S&P 500 index was down 1.8% and the Nasdaq 2.4%. When the market nears the end of cycles, there is always a trigger that gives the market participants an excuse to sell. This week the excuses were fueled partially by the unrest in Egypt.
We welcome feedback from these updates so they will be readable and understandable to the entire client population.
I thank Don for providing this service and can't even begin to thank him enough for his wonderful talent and insight.
John Norquay
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