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In this paper, from the microscopic Hubbard Hamiltonian we extract the local spin-singlet amplitude due to short-range spin correlations, and quantify its strength near half-filling. As a first application of the present approach, we study a problem of the energy dispersion and its d-wave modulation in the insulating cuprates, SrCuOCl and CaCuOCl. Without any adjustable parameters, most puzzling issues are naturally and quantitatively explained within the present approach.

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