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Monday, August 1, 2011

Critical Support Holds Initial Test

It's gap and go out of the gate on this first day of August, as a relief rally out of short-term oversold technicals ensues on news of a deal in Washington and a possible end to the near-term uncertainty driving recent skittish market conditions. The test of key technical support on Friday set the stage for a rally effort by the bulls, but they still have work to do to drive the herd out of the woods.


Trade well.

-- Brinkley
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