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E-Mini S&P 500: At the crossroads! Mixed data today puts us at the crossroads on the E-Mini S&P 500 Daily Chart! Initial Jobless Claims fell 29,000 to 409,000 last week. All the while, the Philadelphia Federal Reserve Bank reported the business activity index had fallen to a seven month low. Our expectations for US economic growth come in about 3 – 3.5 . The earthquake in Japan is still a factor slowing our growth as auto parts and manufacturing may be delayed as Japan rebuilds its country after the devastation. US Existing Home Sales were glum as the sales of the homes fell 0.8 last month to 5.05 million units annual rate. The abundant foreclosed properties in the marketplace make it a buyer’s market, but with such a fragile economy, the most aggressive investors may be cautious. The brightest part of the trading day may have been brought about by LinkedIN Corp. as they were up 110 % to $94.25. We wait for the remaining balance of earnings report for further direction. The intriguing part of this picture is the fact that we have seen some fairly bright reports and earnings, yet we remain in a downtrend channel.