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For Now, the Trend Is Still Our Friend

James "Rev Shark" DePorre

Tuesday's market weakness was very quickly forgotten on Wednesday, but what was most notable during Wednesday's session was the very strong action in small-caps and big-cap momentum names. In fact, it was practically a perfect setup for a "Don't Short a Dull Market" reaction on Wednesday afternoon, when we got a brief dip following release of Federal Open Market Committee's March 19-20 minutes. To put it plainly and simply: Price action.