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Pastimes : The Philosophical Porch -- Ignore unavailable to you. Want to Upgrade?

To: westpacific who wrote (5046)	11/30/2009 11:03:51 AM
From: Rarebird	Respond to of 26251

The market bounce I saw this morning isn't likely to last because the broad market is weak. The Russell 2000 is more than a percentage point weaker than the SPX and has broken its first support line, heading for that more important support line just below it near 563 today. If I am to see a significant trading low in the first half of this week, I need to see the stronger blue chips sell off. According to the short term cycle, that should happen today or tomorrow. The first big test for the market will come when the Russell 2000 hits the rising support trendline about 10 points below where it's trading right now.