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Lunch Time Market Technical Summary And Keys

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

The market has behaved in an extremely interesting way today. First, the dollar is getting crushed today, that gave us an upside move of course. The key is this though, XOM and GS, two leading stocks in this market ran higher for most of the morning. However, while those two stocks ripped higher, the markets could not make a higher high. In addition, oil ran higher as well. Usually, this causes the markets to go higher as well and this market continues to be held in the mid range of $103 resistance on the SPY and $102.50 support. Watch the $102.50 level. Should this break on a closing basis, this market should see $102 gap fill. Refer to the chart below. Any movement to the upside in the dollar should cause selling in this market.