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Monday, November 18, 2013

Monday Morning Update


My first inclination was to go with the obvious pivot points - Friday's high and low, which would put us in a very narrow range with a resistance level at 1799. That seemed awfully narrow, and t=at the open we went through 1799, so I went with the less obvious (and probably wrong) pivot points i have now, giving a resistance level at 1803. Well, the early jump was quickly reversed, and it looks like 1799 might actually be a resistance level. XLI and XLF are leading the sectors this morning, while XLU and XLV are lagging. The Nasdaq and Russell 2000 are both lagging a bit. I have oil, gold, and treasury yields all down.

I have 200 new highs so far, with breakouts in BSI, ITRN, KIRK, SWIR, ROIAK, SGNT, and MEG. I had 3 stocks scheduled to report this morning, one has: JKS, up 11.6%. KKD is now confirmed for first week of Decemebr, and i still have no date for DY.

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