The S&P ran into the resistance we noted a couple of weeks ago and pulled back this week.

Small caps managed to break out of the pennant formation we’ve been watching and are now testing the break.

Commodities broke their downtrend, suggesting that economic activity mainly in China may be better than most figure at this point in time.

China’s stock market sure does look like it wants to put in an important bottom here.

And the Euro looks to be in the midst of a bottoming process as well.

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