Market Analysis 11/12/2004

The market broke the 10-month downtrend last week. The trend looks bullish as resistance is broken. Bias remains the same. I expect the nasdaq to reach its 52 week high of around 2150, and 10,750 for the dow over the medium term.

 Any weaknesses approaching the broken trend line is a good opportunity  to buy. If investors can buy when the indices approach its broken trend line, a one-year-gain of 10% or more is quite feasible.

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