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COMMENTARY
3-23-2005
10 AM ET
The markets are bouncing up a little this morning after yesterday's drop on the
Fed rate hike The DIA's, DIA Chart, have broken support at 106, which is now resistance and are setting up for a visit to 103.60 which is a critical level
The QQQQ's, QQQQ Chart, are trading at levels not seen since October of last year after falling through a major uptrend line at 36.50. Any rallies should be
eyed with caution as 37 is likely to be decent resistance. We are likely to see
a move to 34.5 in the near future.
The Gold market, represented here by GLD, GLD Chart, has broken through some important support from a shorter term perspective and may need to
revisit more important support at 41. Any rallies should run into resistance
from 43-43.5
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