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Monday, November 25, 2013

Monday Morning Update


Once again the pivot points are not really crystal clear, but this looks about right. I calculate a resistance level of 1810, which we have fallen just short of this morning. We do have a pending home sales report due at 10 am (about 5 minutes from now as I write), and we may get a 5 minute move from that, but so far, it looks like we may end up esting that resistance after a few gyrations. XLV and  XLP are leading the sectors right now, with XLE getting creamed in the rear, a full percentage point below anything else. The Nasdaq and Russell 2000 are both about even. I have oil, gold, and treasury yields all down. 

I have 285 new highs so far, with breakouts in CAMT, GA, ABTL, EDN, TARO, ENV, and CBST. I have a report from QIHU, down 2.7%. 

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