| Weekly Trend: | Up |
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| Daily Trend: | Up |
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| Daily Momentum: | ___ | Up |
A very strong day out in the mid cap resource and energy sectors which is the area of my main focus and one that has been mentioned in these pages before. If I can say anything bad about this recent strength it’s that it may have gone a little too far too fast, albeit that is no reason to be taking profits. Economic data out of China is strong and the Indian stock market is almost back to new highs, that is above the 2007 highs and therefore indicative of a very strong economy. Both of these portend to stronger demand for resources. Also to note is the increasing merger/acquisition activity which will also keep a speculative bid in many stocks. Apart from pure breakouts we still require charts to reset to form some bullish setups. One or two are forming but not enough to keep me happy.
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