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Providing this update to start post-holiday week. Futures vs FV: +5.1 SP, +7 NASD. Black Friday +8% vs 8.9% 2004, but weekend sales a whopping +22% vs 2004. WMT up sharply as discounters lead pack, a sign of higher energy prices. Oil 57.86, -0.85, helping futures. Treasury short end inverting slightly; watching 2 yr vs 10 yr closly. MRK restructuring, cutting 8K jobs. Stocks not ready to start a pullback on the open, looking to extend 6 session upside run. That leaves many stocks overextended near term; we will look at some possible gain taking on early surge but also look @ those stocks breaking higher from near support or making the breakout. Existing home sales 10ET (7.2M expected, 7.28M prior). Resistance: SP500 (1273); NASD (2264, 2288).
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