Support Is Holding, For Now

By: Scott Johnson Sunday, January 11, 2009 4:50 PM

Symbols: AMAT, BBBY, ENER, FCX, FSLR, JPM, JWN, LEN, MTH, NOV, RIO, RSH, SKT, STC, STI, WFC, WFR, ZMH

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I am looking to short XLF below 11.40.

JPM and STI have clearly bearish charts:

- IYR: I mentioned in an earlier post that I was considering IYR to be a bellwether for the broader market. Price has broken below the 50 day moving average, and looks close to a breakdown.

- RTH failed to get through resistance around 79.00, and is now sitting on the 50 day moving average.

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Research Related Stocks: AMAT, BBBY, ENER, FCX, FSLR, JPM, JWN, LEN, MTH, NOV, RIO, RSH, SKT, STC, STI, WFC, WFR, ZMH,

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