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I look to my NYSE and NASDAQ breadth models to provide some additional
perspective regarding the issue of support for the various indexes. The
NASDAQ models (a/d issues, a/d volume, high/low oscilltors) are (so far)
managing to hold above the lows seen at the previous higher pivot price lows
seen in February. The NYSE models have not. This suggests continued pressure
on the markets from the old economy stocks which had proven to be a safe
haven.
Earl
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