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Wednesday, November 17, 2010

The Buck and Breadth

The U.S. dollar closed above initial resistance at both the primary descending trendline and its 50-day SMA on Tuesday, but with major horizontal resistance not far off, in the $80.00 zone. After the recent brisk run-up and with breadth readings in the equities market now registering extreme oversold readings, we are likely close to at least a pause in the action.

Trade well.

-- Brinkley
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