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Thursday, May 19, 2011

Bullish Consolidation

After several weeks of a volatile correction, the major indices, along with many leading stocks, appear to be setting up for a move back to recent highs. The action is still tentative, as typically characterizes consolidation phases, but a strong move and close above the upper descending trendline shown on the chart below, should set a new leg higher in motion. Stay tuned.

Trade well.

-- Brinkley
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