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Globe editors have posted this research report with permission of Phases & Cycles Inc. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following is excerpted from the report:

The dominant up-trend that has been in place since 2009 appears to have weathered the bears' latest attempt at turning the markets downwards. A new up-leg is likely underway.

This should be the final up-leg of this great bull market. Stock selection will be at a premium as leadership narrows.

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