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11/4/2009 9:21:00 AM
Small Caps at Short-Term Low?

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It was another choppy session on Tuesday as the intraday selloffs were well supported. The small caps were the strongest after the transports. IWN has reached stronger support at $54.50-$55. The RSI3 is trying to turn up from oversold levels and a higher close today would be a short-term positive, with resistance at $60.
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Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com Video Network. He was originally trained as a biochemist but began using his computer expertise to analyze the financial markets in the early 1980s. Mr. Aspray has written widely on technical analysis and has given over 60 presentations around the world. Many of the technical indicators that Mr. Aspray wrote about in the 1980s, such as the MACD, have since gained worldwide acceptance.

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