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Joe Friday: "Just the Facts"

May 13, 2011 Analysis from Chris Kimble

It’s Friday, and Chris “Just the Facts” Kimble returns for another Dragnet impersonation, this time with some thoughts on Financials and markets in general … and an ironic quip on diversification.

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Chris comments: The Financial Select Sector ETF (XLF) is breaking some key support, and we all remember that the direction of banks was key back in 2007/08.

The 500 Index, Emerging markets, China, Shanghai and Hang Seng are all on support that dates back to their 2009 lows.


This Week Will Tell If The Bear is Really Coming Out of Hibernation

 
Last week’s selloff did less damage than it may have felt like. The drop stopped in the area of 3 crossing uptrend lines, ranging in length from short term to long term. Here’s what would tell us whether the uptrend is still in force, or signal that something evil this way comes. I have added 8 new stocks to the swing trade chart pick list, including 2 shorts.

With markets all around the world, testing key support from the 2009 lows, at the SAME TIME, it sure is good news that our markets aren’t highly correlated these days and that diversification is of real benefit! For the most up-to-date Kimble analysis, check out Chris’s blog: Kimble Charting Solutions.

View the original article on dhsort.com

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