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MLR - PMP 9/25/14

Major averages rose yesterday on mixed volume. The S&P 500 came within two points of its 50-day moving average before bouncing on higher volume. Biotechs, solars, and some technology and retail stocks did well which bodes well for market internals. Consequently, MDM has switched to a BUY. Futures are currently trading a touch lower as Bank of England's governor steps down. European Central Bank President Mario Draghi reiterated that the Governing Council stands ready to “use additional unconventional instruments” as stimulus measures, implying a full-scale quantitative-easing program could be underway.

Online travel stock Expedia (EXPE) had a pocket pivot off its 50-day moving average. Earnings and sales are accelerating, group rank 57. EXPE's action is in stark contrast to that of its peers Priceline.com (PCLN) and TripAdvisor (TRIP), both of which have violated their 50-day moving averages in recent weeks.

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