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Yesterday John Murphy said, " According to the Stock Trader's Almanac, the so-called "summer rally" normally starts between late June and early July (like right now) and normally makes July the strongest month in the third quarter. Unfortunately, the summer rally is normally the smallest of the seasonal rallies and is often followed by another downturn in the autumn. So while the short-term trend in stocks is stronger, and a summer bounce appears likely, some caution is still warranted until the more dangerous autumn season has passed."
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