Stock Rally Losing Momentum

11/12/2009 9:37 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

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Stocks had a disappointing close on Wednesday, especially the NASDAQ, which formed a doji, suggesting buyers and sellers were equal. The recent rally has just reached the former uptrend and the McClellan Oscillator will look negative if its turns lower today (like in late June), This would suggest a drop to support at 2000-2025.

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