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Carter Worth: 'You're Better Off Buying, Than Selling'

He had said something serious emerged in the charts. What does top technician Carter Worth see now?

As you might remember back on August 10th Worth told us the long-term bull trend, the one that had been in place since March 2009, looked broken.

And at the time, he said it called the whole ‘big picture’ into question.

Well, less than 20 days later, if you're a bull Worth has some good news – at least relatively. He thinks the market has put in lows for the years.

The important tell is the plunge. “The 20% decline took us back to last summer where there was well defined support,” he says. In other words, Worth expects the market will hold around 1100. “We think you’re better off buying than selling.”

There’s more -- (we said the news was good relative.)

In addition, he also thinks the highs are in for the year. “The highs were set in May,” he explains, “but happily you know where the goal posts are.”



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