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Tuesday, October 29, 2013

Tuesday Morning Update

We have another breakout today, and calculating the distance between this pivot point at 1765 and the support level at 1758, I come up with a resistance level at 1772. Well, maybe, but I expect a reversal some time in the first hour, and that may come before we get to 1772. After that, well, we could have another move up which does get there, but that is too far in the future to worry about right now. We have a slug of economic reports this morning, including retail sales and PPI, and they may be adding to the slightly bullish tone this morning. Sector wise, we have leadership in XLK and XLP, lagging are XLB and XLI. The Nasdaq is lagging, the Russell 2000 is about even. I have oil and gold down, treasury yields up.

I have 274 new highs so far, with breakouts in HPJ, NTRI, BP, CRY, TRI, AMKR, CMRE, XYL, DIN, ECOL, PBI, and CCMP. I have a boatload of reports coming in, so for the next few days I will have tables fr them, last night on the right, this morning on the left:

Ticker Change
Ticker Change
HLF 1.94%
CRVL 2.58%
NEU 0.47%
DDD -3.49%

DIN 10.49%

ISSI -9.77%

LGND 0.62%

PROV -8.46%

SAVE 1.20%

X -0.09%

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