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Wednesday, December 14, 2011

Wednesday Morning Update

I still have no access to my Scottrade account, so I can't get the morning chart yet. My old computer is getting quite a bit worse and I have been concentrating on getting stuff off it before it goes out completely, which is taking up most of my time right now.  This morning we are continuing the rather frightening collapse that started right after the FOMC announcement yesterday. The critical support at 1215, which two days ago I thought was perfectly safe, is now in jeopardy and has held. XLV and XLU are the leading sectors this morning, XLE lagging. The Nasdaq is lagging very badly, the Russell 2000 by just a bit. Oil, gold, and Treasury yields are all down, as no doubt the dollar is headed up.

I have 6 new highs so far, with1 breakout, ISRL. Once again I have no earnings schedule, but I did see that JOYG, a potential leader, reported this morning and is down 0.5%.

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