After the lows in August 2007, and March 2008, the market rallied for about eight weeks. My expectation is that the July 15 low should hold until just after Labor Day to mid September. Price wise, a rally up to 1310-1325 was noted in my July letter. The rally off the low on Friday of 1262 suggests the S&P could reach 1350. However, none of this changes the major trend, which is down. Buy dips under 1280, with a stop at 1262.

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