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Wednesday, June 19, 2013

Wednesday Morning Update

I hope the resolution on the chart is ok, it looks terrible on the screen I'm on now. The market is taking a bit of a dive this morning, but we still ahve what looks like pretty strong support ate 1646, and that is holding, so we may be in for a reversal. We are expecting an earthquake at 2 pm today (11 am my time: I should be online when it is released). Resistance now appears to be around 1662.  XLE and XLB are leading the sectors this morning, and we do apper to be in a rotation into commodity areas. Lagging are XLF, XLU, and XLV. The Nasdaq is leading slightly, the Russell 2000 lagging slightly. I have oil and gold up, treasury yields down marginally. We are ripe for a reversal.

I have 113 new highs so far, with breakouts in MFRI. AVHI, DAVE, and ESYS. I have nothing reporting this morning, but I do have MU scheduled for after the close.

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