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Chart of the Day

Despite a host of concerns (i.e. rising gasoline prices, weak housing market, geopolitical issues, etc.), the stock market has remained within a general uptrend. For some perspective, today's chart illustrates the Nasdaq Composite since 2004. As the chart shows, the Nasdaq is up over 22% since bottoming in June of 2006 - Not bad for an 11-plus month period. However, as today's chart illustrates the Nasdaq is currently testing resistance (see red line) of its three year uptrend.