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Monday, December 5, 2011

Monday Morning Update

My internet connection is not quite back to normal, but at least it is loading web pages now, and I am getting streaming quotes, intermittently interrupted but at least it loads now. The market got a bump this morning, supposedly on European news but more probably due to seasonal factors, and is now sitting on Friday's high at 1260, which is now setting itself up as a pivot point. The lower pivot point is pretty obvious at 1240, making the upper pivot point 1280 (keep it simple on Mondays). XLF is leading by a mile this morning, XLE a distant second. Lagging are XLP and XLV. The Nasdaq is lagging fairly badly, the Russell 2000 is about even. Oil is up, gold down, treasury yields up.

I have 80 new highs so far, with breakouts in TLEO, CYAN, ITC, ULTI, N, and ETR. I have HITK reporting this morning, it is up 2.6%.

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