Market Analysis for Apr 21st, 2005

For today's Mid-Day Minute, Mike writes: The Philly Fed data helped spike the Qs to marginal new recovery highs (so far) at 35.39, just a few cents above yesterday's high. Right now, my work points to still-more recovery rally-- into the 35.50/60 area prior to the resumption of the dominant downtrend. We will continue to watch from the sidelines for a while longer... looking to enter the short side in the above-mentioned range.

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