Doesn't this contradict his support for index funds in his book A Random Walk Down Wall Street?
The Portugal debt downgrade did support the dollar index as it pressured the Euro currency.
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There is initial support for the tech index at 455 to 460, with more important at 433.
These numbers did not help make the dollar more attractive, as the dollar index violated support (line a) on July 21.
Another strong reading from the flash index would support the strong data from the Empire State Manufacturing Survey, and will indicate that the economy is healthier than most think.
The dollar index violated important support last week suggesting that some are not expecting the debt ceiling to be raised.
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The daily chart also shows a fairly normal corrective pattern that has already taken the Index close to support from the September highs at 7, 488.
The findings support research from the Kauffman Index of Entrepreneurial Activity, which shows that in 2010, entrepreneurs between the ages of 55 and 64, accounted for 23 percent of new entrepreneurs, up from 14 percent in 1996.
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Earlier in the week, the index was testing this support, and on Thursday it plowed right through it.
On the downside, the U.S. dollar index sees near term support at the Oct. 31 low around 79.65.
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The gold market bulls are frustrated because gold appears to be pressured when the greenback rallies, but cannot gain support on days when the dollar index is lower.
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Earlier, a trader said, gold and other commodities found minute support from the HSBC preliminary Purchasing Managers Index for October.
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Some downbeat U.S. economic data Tuesday pressured the U.S. dollar index and in turn helped to support the metals markets.
Bearish sentiment from investors has taken the Hang Seng Index through its 19, 000 support level for the second time in less than 72 hours, opening nearly 500 points lower Friday in Hong Kong to 18782 points.
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The iShares MSCI Japan Index Fund ( EWJ) gapped below support on April 4, which completed the daily top formation, lines d and e.
The 9-day relative strength index (RSI) is pointing higher and will support additional near term upside probing.
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The iShares MSCI Emerging Markets Index Fund ( EEM) has dropped to important support, so the strength of the next rally will be important.
Chart Analysis : The iShares MSCI Brazil Index Fund ( EWZ) dropped below trend line support, line b, on Thursday, although it did rebound on Friday.
Here are the critical support levels and potential downside targets to watch for the major stock index ETFs.
The index was founded at the University of Michigan and gets support from ForeSee for its e-commerce and e-business rankings.
The iShares Russell 2000 Index ( IWM) has also dropped back to important support (line e), which it is trying to hold.
The 200-day is a major, major support level, so its important to see how a stock or index handles a break of it over the subsequent 1-3 days.
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Daily momentum indicators, such as the nine-day relative strength index have turned higher from oversold levels, and will help support corrective rally bounce early this week.
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Once again, the stock index futures are lower in early trading, but are holding above initial support.
Gold and silver both got buying support as the trading session wore on, due to the U.S. dollar index backing way off its daily high and by crude oil prices posted a sharp rally after trading lower early on.
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The U.S. dollar index was slightly lower Wednesday afternoon and near its daily low, which also gave some upside support to the precious metals.
As a result, the VIX is now being squeezed into technical support in the 17-17.50 area, a region that has provided a floor for the index since late January.
The SPDR Diamonds Trust ( DIA), which tracks the Dow, was the only one of the four stock index ETFs to make new highs last Tuesday, but it slightly broke the longer-term support at line c on Wednesday.
Some better German economic data and a well subscribed Spanish bond auction Tuesday did support the Euro currency, which in turn put some downside price pressure on the U.S. dollar index.
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