Some of the major stocks that opened higher but into resistance were Google Inc. (NASDAQ:GOOG), which opened into the daily 20 moving average and International Business Machines Corp. (NYSE:IBM) which into the 20 and 50 moving average. Again, the key here is to recognize that leading stocks are hitting resistance ranges just as the markets are doing the same. This basically means that traders are now moving from a bullish bias over the last week to a more neutral or neutral to small negative bias.
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Chief Market Strategist
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