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Friday 19 July 2013

Stock market rebounding but weak

The stock market is trying to rebound but should fail as there are no new catalysts to support it
Google leading the way by jumping from 880 to 900, new resistance found at 900
Google is still a favorite & it still has strong earnings potential despite missing estimates
S&P 500 reached 1689 but looks weak as it drops back to 1687
AMD tried to break above 4.0 but failed, it's now staying barely under 4.0 @ 3.98
Microsoft reached 32.5 at 1 point but dropped back to 32.0 & broke below it to 31.5
Nasdaq went up to 3585 but is now back at 3580
Strongest stock: Google
Weakest stock: Microsoft

Google's new resistance is currently at 900 (Sell Google @ 900)
Microsoft is a confirmed sell as it broke & stayed below 32 (sell again if it barely reaches 32 & drop again)
AMD is a confirmed sell as it broke & stayed below 4.0
S&P 500 & Nasdaq are still trying to stay above 1687 & 3580

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