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Minyanville's T3 Morning Market Call: Markets Back on the Rise After China Stimulus

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Apple is set for a flat open while Google looks like it will open higher this morning.

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Oil was the hit the hardest on September 17, giving clues that there was more weakness to come. United States Oil Fund (NYSEARCA:USO) put a small bottoming tail in yesterday at $32.98; let's see what type of bounce it gets. Lots of resistance piles up around $34.40-34.60.

Metals looked ready for a pull-in after some short-term toppy action on Tuesday. SPDR Gold Trust (NYSEARCA:GLD) broke lower early yesterday but closed off lows. It held Support No.1 above the 21-day MA and now we have a new pivot to trade against: $168.34.

I did break a rule or two yesterday by buying some stocks into the weakness around 3:50 p.m. If you fasted yesterday, I hope it was an easy one.



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Scott Redler is long SPY, AAPL, LVS, GS.
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