Abet Chichi2

[DiscoverGold]

Weekly Technical Comments by Art Huprich - Friday Morning 1/02

"As a follow-up to my comments Wednesday about the legendary “Santa Claus Rally,” when asked “Why... why does this occur?” one reason, under normal circumstances, may be related to “end of year – new year reinvestment dollars” being put to work. Granted 2008 was far from normal, but this may have been a reason for Wednesday’s 108 and 26 point gain by the DJIA and NASDAQ, respectively.

Additionally, the Dow Jones Utility Average (UTIL/370.67) is signifying improving buying interest (demand). I think it moves higher, short-term. A move below 353 would be a warning sign and below 339.45 would make this observation “null and void.”

For full technical Commentary and Charts:

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

George.

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