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MARKET WRAP UP 02/07/11
The bulls opened today’s session with a rather vigorous morning push, before the action dulled down a bit into the closing bell. With the S&P 500 finishing up 0.62% to 1319, the broad market is converting even the most ardent of perma-bears these days. While some of the commodities saw notable intraday reversals–namely copper–the regional banks led us higher. Moreover, AAPL and GS gave the bulls plenty of ammunition to continue buying even the most of extended charts in various corners of the market.
Going forward, the crucial issue hinges on how much longer the broad market can continue to move higher despite glaring underlying divergences, coupled with a lack of proliferation of high probability long setups.
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Excellent wrapup Chess. Thanks!
Thank you, sir.
There is a similar megaphone on the $NYSE like on the $RUT
Where’d you get that picture of Le Fly?
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I think Ian would be the obvious pick to play Le Fly in the film I Banked Coin!