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The NYSE breadth was horrible on the decline into the Oct. 15th bottom and
stayed horrible on the rally to new highs. So why should the market now
decide to follow the breadth higher? Breadth typically improves in January as
the January effect comes into play as small stocks tend to outperform. The
Valueline has done better than the S&P over the last month and may be
responsible for the breadth improvement.
Howard
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