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Tuesday, October 8, 2013

Tuesday Morning Update

We are getting another scare this morning, but nce again the dip buyers are showing up as we approach 1670. This could go on for a while, but not forever; at some point the market is going to demand a resolution. We have XLU and XLI leading the sectors this morning, while XLK and XLB are lagging. he Nasdaq is lagging slightly, the Russell 2000 is leading slightly. I have oil up, gold down, treasury yields up.

I have 38 new highs so far, with only one breakout that I can see, MCK, which was a buy candidate from the price relative scan yesterday. I have nothing scheduled to report today.

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