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The stock market has been in a sideways trade in recent weeks but bright days are ahead starting in June, according to Tom McClellan, editor of The McClellan Market Report.
“The best leading indicator of future liquidity is the euro dollar futures market,” he said, adding that he examines CFTC data, which shows that smart money and big banks have gone long the euro/dollar.
“The stock market tends to follow their movements about a year later so the stock market is going to be swooping up to match the big swoop up we’ve seen among commercial traders of euro/dollar futures.”
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