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Minyanville's T3 Morning Market Call: Market Looks to Recoup Friday Losses

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Banks have been on the stronger side while the tech sector has been very heavy.

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The Homebuilders ETF (NYSEARCA:XHB) should be watched to make sure that commitment remains. $25.70 is an important area to hold. Lennar (NYSE:LEN), Toll Brothers (NYSE:TOL), KB Home (NYSE:KBH), and Ryland (NYSE:RYL) are all stronger stocks.

Metals have been coming in after failing at some major resistance levels. This is why you ride the 8- and 21-day and if they give way, you sell.

Gold (NYSEARCA:GLD) held its 50-day. Use that as short term support, which is now around $166.23.

Silver (NYSEARCA:SLV) closed below its 50-day. The new point of reference short term is $30.92, but $30.03 is the 100-day.



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No positions in stocks mentioned.
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