NASDAQ bottom may be setting . . . similar to 2011, 2010

The NASDAQ chart suggests we may have set a medium term bottom.  I now expect more strength to end the quarter.  The macro numbers have been weaker than expected but not too weak.  The upcoming earnings season should provide enough “beats” to drive the market higher going into the seasonally stronger 2H and the election.  The highly anticipated Supreme Court decision on the constitutionality of Obamacare will be disclosed next week.  While the Euro / PIIGS train wreck is problematic, it is potentially losing its ability to surprise the markets.  Jeb Terry, Sr. June 24, 2012

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