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Jamie's Pick: 04/18/12

Jamie's Pick: 04/18/12

Jamie Saettele, CMT, Sr. Technical Strategist

The combination of price pattern since the late February top and key reversal on Friday warrants a bearish stance against 8320. Resistance from December and the 100% extension of the 8471-8061 decline at 7878-7908 define the target area. Traders, CPI is due at 6:45 pm EST on Wednesday.

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