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THE CONSUMER, NOT FINANCIALS, WILL LEAD US HIGHER!

|Includes:SPDR S&P 500 Trust ETF (SPY)

Yesterday, the S&P 500 closed at 825.16, up 1.2%.  Yesterday it was important that the S&P 500 closed above the 822 TREND line; continue to manage risk around that line surgically.  The positive tone to the market was driven by: M&A in the housing sector, the potential for the Treasury to extend the TARP to the life insurers, upbeat earnings out of Consumer Discretionary (NYSEARCA:XLY) and a jump in mortgage applications to the highest level since January 9th.  The dollar ended the day basically flat and the VIX declined 3.8% yesterday; now down 22% over the past month. 

Stocks: SPY