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September 26, 2005
NY Composite Still Strong
Despite selling pressure over the last few weeks, the NYSE Composite remains above the May trendline and August low. The index has lots of support around 7350 from broken resistance and I would not turn bearish on this broad non-tech index until a break below 7350. Watch the May trendline (7450) for early signs of weakness.
Posted by Arthur B. Hill at September 26, 2005 06:54 AM