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Tuesday, August 21, 2007

Relative Strength, Weakness

The Nasdaq 100 has been by far the strongest of the major indexes, and that was true today. It is close to a resistance level (as are all the major indexes. I think we are unlikely to make a major move one way or the other until after Labor Day (volume has been shriveling of late, all the big boys are on vacation).

The Dow Transports were the weakest index today. It appears to beready for another leg down.

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