The market was quiet Friday, with all major indices closing slightly higher to end a three-day losing streak. We noted a small short-term complexion change with yesterday’s close below the 10-day moving average (http://en.wikipedia.org/wiki/Moving_average), but it is nothing to cause any great concern. We still could probe some deeper support levels through the end of the month and quarter. Profit taking could also lead to some downside next week.Recently the market has avoided any of the negative headlines that plagued it in Q4 2011. US economic data (http://en.wikipedia.org/wiki/Economic_data) continues to improve steadily, stirring hopes that a more meaningful recovery is on the horizon. We did, however, get some warnings signs with China (http://maps.google.com/maps?ll=39.9166666667,116.383333333 spn=10.0,10.0 q=39.9166666667,116.383333333 (China) t=h) this week. China…
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