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Wednesday Morning Notes: Strength Across the Board as Spooz Break Closely Watched Trendline Resistance

 HedgeFundLIVE.com – Morning Notes

- Global indices are up strong today
- Nikkei rallied to close up 2.6%- yen was weak
- Nuclear situation in Japan has not improved, however- reports out that radiation in seawater outside Fukushima plant rose to highest levels- govt may cover three of the reactors with tarps in attempt to contain radiation
- Situation in Middle East has not improved either- Gaddafi’s forces regained control of a refinery town; also, Pres. Obama said he is confident that Gaddafi will ultimately step down
- S&P downgraded Greece and Portugal, but European bourses are trading up
- Portugal 5 yr note yield at highest level ever in the “euro era”, at 9%
- Strength overseas has carried over to domestic market with S&P futures up 5 handles from FV ahead of open- futures have been pulling in slightly
- March ADP Employment Change: 201K vs. 208K; prior revised down to 208K from 217K
- Small pullback followed ADP number release

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