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Daily Share Market Analysis May 12 2017

The Dow really had a big selloff yesterday only to form a 60 min bottoming tail near the daily 50 MA support. On the daily charts, the Dow and SPX is still in consolidation mode. While most of the exciting action happened in shorter time frames, the daily charts tell us the bulls and bear are still equal in the Dow and SPX. For tech stocks and the Nasdaq Composite, things are different. They are in a bull mode and look set to go higher no matter what the Dow and SPX does.

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