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Friday, November 22, 2013

Friday Morning Update


We are back to the top of the range, with resistance now back at 1800. I have support at the brief pullback low from yesterday, at 1790, which make the arithmetic easy. 1795 is the midpoint, and is staring to act like support; a brief foray below it this morning was quickly reversed. We are pretty much in limbo now,. waiting to see if we break out or fail at 1800. XLV is leading the sectors by a mile, with XLI a very distant second. XLB and XLE are lagging. The Nasdaq is leading, the Russell 2000 lagging. I have oil down, gold up, treasury yields down.

I have 160 new highs this morning, with breakouts in LRAD, BIIB, POZN, SPLK, FL, TWC, EDN, AZN, and ANN. I have a report from P, up 4.85%.

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