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01/05/2008, at 6:54 pm

There was nothing even remotely positive about yesterday’s market action.  All the averages were down significantly on increased volume with the NAZ showing the most weakness, after exhibiting relative strength vs the other major averages over the past few months.

All the averages are also now very close to rolling over their longer term weekly MA’s (20, 40 & 50 Week) which would not bode well for the next few months, at least.  Keep a close eye on the AUG lows.  If we break below those that could signal that a longer term correction may be underway.

Coach BD

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