Stock Market Analysis & Ideas for 7/1/11
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The $SPY broke past the 130 level of resistance and could be headed for a test of the 50 dma near 131.90. $XLF was strong, but $SMH lagged, check the video for key levels to watch.
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The market continues to show signs of stabilizing, but the choppy action of the last couple of weeks is still prevalent in the major averages. This video takes a look at key levels for $SPY $QQQ $IWM $SMH
{+++} Some extra ideas included here
Markets were mixed this week as they are attempting to stabilize (mainly near 200 day moving averages) but the evidence of strong buyers remains elusive.