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Friday, November 20, 2009

TA for the week

Advance/Decline suggests that we have reloaded adequately for a multi-week run up, but I don't see it in other charts: Chart

Consumer discretionary is now at major multi-year resistance and should make a pull-back: Chart

The Dow is in need of further correction to catch up to the NDX. Perhaps we'll have a +NDX/-Dow day early next week. Dow 10,100 would be a logical target. Chart

The TICK 10-day moving average signaled an interim top has occurred. At least a multi-week downturn should follow. Chart

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