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Strong Breadth Supports Rally

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Friday's 277 point gain in the Dow was supported by strong breadth, a positive reinforcement of bullish enthusiasm. Indicators of breadth include Up/Down Volume, Advancers vs. Decliners, and New Highs vs. New Lows. as the chart below demonstrates, all three indicators bolted higher on Friday:

Notice the recent high achieved in the NYSE Advance/Decline ratio and in New Highs vs. New Lows. Continued strength in these indicators bode well for a sustained market uptrend.

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