As we await the short-term fate of the market (mild consolidation versus aggressive downside to try to form a higher low), it is worth taking a look at weekly charts of stocks that have had tremendous performances in 2012. The following five weekly charts below are just a sampling of leaders you should be monitoring closely to see if they continue to point to a rapidly concluding bull market correction, on the cusp of turning on a dime and making new highs.
Note the strong buy volume this week in these names. It sure smacks of buyers of size presenting themselves in a meaningful way.
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