FOR WEDNESDAY: (7/13) The potential impact of the new PM in the UK  caught us napping on  Tuesday. Yes, now suddenly the UK is fixed and there are no potential problems for Europe, or so the market reacted today. Sometimes these news events are followed by the trend as usual, and that may again be the case with the recovery in the dollar late.

We’ll give our original cycles the benefit of the doubt for a few days and see what happens but T-notes issued a breakdown signal and so did gold so the other markets might follow so be cautious.

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