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Weekly Technical Comments by Art Huprich - Friday Morning 12/19

"I maintain the opinion that the October to November lows are critical lows and part of a bottoming process – a weekly close below 741 by the SPX would deem this observation wrong! To paraphrase a market prognosticator whom I respect and agree with...”Bottoms are a process - not an event - and so far, the process is playing out well.” While there have been some concerning declines, since the October and November lows, the stock market has absorbed and contained an unprecedented amount of negative news. “Do not think this is going to be easy? I expect a lot of trading curveballs and a lot of backing and filling.”

For full technical Commentary and Charts:

http://www.rjf.com/technical_commentary.asp

George.

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