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HAPPY DAYS ARE HERE AGAIN

|Includes: AAPL, BAC, GOOG, GS, SPDR S&P 500 Trust ETF (SPY), SPY

The S&P 500 had a good week last week. Some people might say that happy days are here again. www.youtube.com/watch

We cleared 1100 which was acting as resistance. I also like to look at the S&P 100. The corresponding level on this index is 500 and we have not cleared that yet. I would, of course, like to see this level cleared this week.

If we can hold 1100 the next big test is 1130. After that 1150. I think if we clear 1130 we make a run at the 1220 area again. I don't want to get ahead of myself though. Let's see if we can make it to 1130 first.

Another positive is that both the S&P 500 and 100 are both finding support at the 100 week SMA. The 500 even cleared its 100 week EMA this week. The 100 has not.

So, to sum up.

NO LONG TERM SELL SIGNAL YET.

www.youtube.com/watch

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