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Tuesday, January 4, 2011

Bullish Beginnings

The $NDX staged a major breakout on Monday to start the new year, continuing to lead the advance and gapping up above critical long-term resistance at the 2007 high. The charge was accompanied by a sharp increase in volume with the tech-heavy index closing in the upper part of the day's trading range. Typically, when significant levels are overcome there will be at least one pull-back to test the breakout point and attempt to establish it as new support. Stay tuned.


Trade well.

-- Brinkley
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