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Tuesday, July 12, 2011

Tuesday Morning Update

Last night's bouce in the Euro did not amount to much, and this morning the market has opened a little weak. Resistance should be somewhere near 1322, support somewhere near  1308, with the all important mid point at 1315. There is nothing in the news of any consequence (other than the trade balance report, which really sucked), so we might be in a pretty narrow range today. The leading sectors are XLF and XLY, lagging are XLK and XLI.  Both the Nasdaq and Russell 2000 are lagging. Oil is down, gold up, treasury yields down.

I have 23 new highs so far, with one breakout, LMIA. I also have breakout charts for GRS and HOC on Finviz, but I think those two have changed symbols, I will try to find out what is going on there. I have nothing scheduled to report today.

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