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Wednesday, May 15, 2013

Wednesday Morning Update

We have made such a big move in the last 10 days that the candles are getting very hard to see.  We are down marginally this morning, which will probably be another opportunity to buy the dip. We have another round of economic data that sucks this morning, but I don;t expect it to affect the market for long. Sector wise, XLU and XLY are leading, XLE and XLI are lagging. The Nasdaq and Russell 2000 are both about even. I have oil, gold, and treasury yields all down.

I have 235 new highs so far, with breakouts in EVK, VIPS, CGX, and HIMX. I have one report, EXP on the relative strength list, whch is up 3.4%.

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