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Halftime Report, Thursday December 3

|Includes: DIA, SPDR Gold Trust ETF (GLD), IWM, QQQ, SPY, UUP, XLF

 So far, today's market action seems like deja vu of yesterday's session. This morning, SPY gapped up and put in new highs for 2009. Now SPY is pulling back and making a symmetrical triangle. If it breaks to the downside, expect support at 111 again. To the upside, expect resistance at 111.7, 112, and 112.2. The Nasdaq (QQQQ) and Russell 2000 (NYSEARCA:IWM) are relatively strong intraday compared to the S&P 500 (NYSEARCA:SPY) and Dow Jones Industrial Average (NYSEARCA:DIA). Again, the Financials (NYSEARCA:XLF) are relatively week intraday. Gold (NYSEARCA:GLD) is down about .3% and the dollar (NYSEARCA:UUP) is pretty much unchanged.

The VIX is up 1.5%. The TRIN is bearish, and the TICK is relatively neutral.

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Happy Trading,

Jason