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Strategies & Market Trends : Ask DrBob

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From: Drbob512	12/23/2008 1:19:58 AM
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* TA Update * The market internals were decidedly negative today, at a time when a rally is needed to reassert its uptrend. The risk has now risen that the market has topped out and will start falling significantly to test its November lows even if it can bounce on Tues or Wed. The McClellan Oscillators are weakening and are now only slightly above the zero lines while their 10% components are negative now. The action of some leading stocks and sectors were quite weak today and that might portend further weakness. In the very near term the market could bounce but the bullish case needs to show stronger evidence, and soon. Another weak close with negative internals within the next couple of sessions could be a bearish harbinger. drbob

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