``When the VUD indicator is extremely negative over a period of time, it sets up the market for a bounce. If the market was not so high and trade war concerns were not present, the interpretation of the chart would have been that the market is in the process of retesting February's lows and then likely to bounce higher. However, given the prospect of a trade war and the fact that the VUD indicator is very negative but not extremely negative, investors should take some defensive steps.''

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