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Talking Points:

• Both the S&P 500 and US Dollar - market benchmarks - charts look winded and exposed

• Reversal or continuation, speculative participation is rapidly draining into a holiday weekend

• EURUSD, GBPUSD, USDJPY and many other opportunities may be better to hold off until next week

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The charts are looking seductive for both those groping for reversal and banking on continuation, but participation is going to be an issue. As impressive as market activity has been between the S&P 500's impressive bull leg and EURUSD's consistently decline, the seasonal effect of the Labor Day holiday drain as an end to the 'summer doldrums' presents too distinct a burden when volume and volatility levels are already floundering at record lows. Does that mean trading opportunities will evaporate or unexecutable in the interim? No. But, we should be fully aware of what to expect. We lay out these market conditions and opportunities in today's Trading Video.

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