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Tuesday, October 22, 2013

Monday Morning Update

Well this week is getting off to a great start, I apologize for being late, but I may have to miss a few mornings the rest of this week. Barring any future computer problems, I will have extended posts after the close. We are about half way through the trading day, and the market has settled down after the initial jump this morning. NFP came in low this morning, and of course, bad news is good news to the market. The gap from this morning should be support now, and the gap from yesterday last ditch support. I have 1757 as the new resistnce, and that seems to be where the market is finding it. XLU and XLB are leading the sectors this morning, XLK and XLF lagging. The Nasdaq and Russell 2000 are both lagging pretty badly. I have oil down, gold up, treasury yields down big.

I have 667 new highs so far, with breakouts in DEPO. LGL, ILMN, QEP, NUS, and MFSF. I have reports from NFLX, down 6.1% and dropping fast after a big gap up, and NUS, up 1.3% but also dropping after a big gap up.

I will be out until after the close, so I will see you then.

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