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Monday, August 26, 2013

Monday Morning Update

This morning was another case of the lines drawing themselves when i looked at the chart, and it does look right. I now have resistance at 1667, so we should find out soon if it is. This is the last week in August, so we can expect low volume and a lot of computer driven wierd behavior in the market, but we amy also get a few clues as the wher the market will head when the volume comes back after Labor Day. I have XLE and XLV leading the sectors this morning, while XLP and XLF are lagging. The Nasdaq has a pretty good lead, the Russell 2000 is about even. I have oil, gold, and treasury yields all down.

I have 91 new highs today, with breakouts in RGDX, ACU, WYY, QIHU, ATK, and ABFS. I have a reported scheduled from QIHU, I don't see a report but is is gapping up big today, so I suspect they have reported.

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