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The impressive gains in the stock market this week have caused some to believe that this is the market’s last gasp as the small investors finally get in. Though a decent correction would not be surprising, the A/D line continues to lead prices higher and the number of stocks making new highs surged to 589 on Wednesday. The pattern of higher highs is positive for the intermediate term, with a band of resistance in the NYSE Composite in the 8000-8300 area.
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