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April 26, 2009

Canadians watch the US bear market rally

With such a large part of Canada's GDP dependent on the American economy's health, I find private equity investing is being held hostage to he stats south of our border. As of this moment, the USA general market is still only showing a bear market rally.
The benchmark index had three instances of testing the 875-877 resistance area. The index tried again this week and traded as high as 871 on Friday but fell just short of a real test of last week's close. This area appears to be a strong resistance level and Americans need to see more strength in the coming week(s) to rise above this important level and lead the way higher.

Posted by Jacoline Loewen, Loewen & Partners and author of Money Magnet.
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