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Market Update June 17, 2011

Posted on | June 17, 2011 | Comments Off

The S&P 500 is eying a bounce this morning as traders/investors gain confidence over the situation in Greece and Europe.  While of course no long-term solutions are offered, traders can be appeased in the short term with the promise of short-term bailouts and stability efforts.

Interestingly, Apple (AAPL) broke its 200 day moving average yesterday for the first time since early 2009.  Since Apple is such a widely watched stock and considered a leader in market action, this could be significant.  Let’s see how it trades along with the rest of the market today.

With a big up day, the S&P and the markets can escape a seventh straight down week which would have been the first time in decades that this happened.

We’ll do a follow-up update this weekend after we see how Friday trades and the week closes out.

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Read more on Lingui Development, New World Dev CO, Apple at Wikinvest