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The intraday reversal Tuesday may have cooled off the momentum and will allow some consolidations and pullbacks to develop.
I think the most troubling data-point Tuesday was the analysis concerning contract or 'home-purchase agreement' cancellations.
The tortoise of Japan may be far behind the hare in the West, but Tokyo is pacing itself for steady multiyear growth.
To justify buying at today's prices means that one expects a new Bull Market leg - something I remain dubious of.