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Looked at the Exchange charts. AMEX looks a bit sickly as you can see by
the chart. The NASDAQ isn't doing to well either. But the NYSE might be
getting close to moving back in with confidence.
We did have our surge in up/down volume on the NYSE. It was just weak.
New highs minus new lows (NH-NL) is trending up. Since we had the
Thanksgiving holiday the total volume spiked down. But this is the area
that we need to watch. I will also guess we might see another surge in
up/down volume if we hit new highs on the DJIA.
As we know this is a narrow advance. But my guess is that once the DJIA
has proven itself, the other exchanges will follow the DJIA. I believe I
heard the s&p500 finally hit a record high. I have been on the fence
about placing my money back into the AIM mutual funds since they have
not performed. Mainly moved sideways. Might be a good time to get back
in.
Harley
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