"Goodmorning...As noted on Thursday, the market made a nice run from the May lows right up to the descending trendline that began in early 04. The S&P 500 has actually managed to hold above the descending trendline while the Nasdaq and Dow are hovering slightly below. We will likely see some back and filling from short-term overbought levels in the days ahead but look for the action to be resolved to the upside."
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