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  1. Take That Bears

    BAM! Take that bears. Today's trading started out fast, with a gap higher followed by high, broad-based volume interest. Today's close leaves the S&P 500 just 1% below its 52-week high.

    It's amazing how fast the news shifts, and with it the market's fortunes. After some bad news on Greece, Portugal, and Spain earlier this week, today's' bond action saw their yields contract, which allays concerns about the severity of these county's fiscal health. I may not agree with that assessment, ...
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  2. On Pins and Needles

    The earnings and outlook picture from reporting compaines didn't change today, it's still upbeat. But something else didn't change either, and that's another bad news report from an S&P analyst, which saw Spain's credit rating dropped from AA+ to AA. That annoucement sent stocks lower after a choppy start.

    The other big news event was the latest policy statement from the Federal Open Market Committee, which was anti-climatic. But that really wasn't surprising as the Fed did what was ...
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  3. Balance

    Balance



    Three years ago I would have looked at a day like this Tuesday and thought the world was ending; But as we get older (and hopefully wiser) we learn when it comes to the markets, prices always seek balance.
    Inevitably that balance can be found within the linear regression channels and the 20/50/200 day moving averages.

    Fact is we've been overbought, and this is nothing more than an adjustment in price needed to reflect its true value. I
    ...

    Updated 04-28-2010 at 02:10 AM by JTH

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  4. European Sovereign Debt Bomb Becomes News

    Did the market just find out about the European debt bomb? You'd think so after today's reaction to downgrades on the sovereign debt of Greece and Portugal.

    Trading started off choppy in spite of continued good earnings reports and guidance, this time from Texas Instruments, 3M, and Dupont. And it didn't react too much to today's data releases either. The S&P/CaseShiller 20-City Composite was up for the first time in 4 years (albeit not as much as expected) and consumer confidence ...
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  5. Breather

    A down close on a Monday? That's an unusual event, but the high volume activity carried over from last week. At this point, some consolidation is more than welcome and I still see no sign of this market turning down. Here's the charts:

    General Questions about the market-namo-jpg

    NAMO and NYMO remain on a buy and near their 6 day EMA.

    General Questions about the market-nahl-jpg

    NAHL and NYHL are telling story of momentum. These are historic highs being posted and would seem to bode ...
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