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The stock indices continue to trade higher but also continue to do so with mounting divergences. Without getting into all the ifs, ands/or buts, the bottom line is that the initial signal of a potentially important top in place is a close below today’s lows by all four of the primary trading indices – Dow / YM, Russell 2000 / TF, Nasdaq 100 / ENQ and S&P 500 / ES. That level in the ES is 1456.50.
