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Shares of Northern Trust are moving well today.  The stock is up just shy of 3% as it begins to put some distance on a descending 200 day moving average.  This key long term indicator has capped the post March highs as well as last month’s peak.  Also providing heavy resistance is the $86.00 area.  NTRS stalled here one month after a strong post earnings( rally.  This same supply zone held multi week highs in September as well as the initial October highs.  With solid footing developing underneath(200D mav) we believe NTRS is setting up for a clear break above heavy resistance.

In the near term we regard NTRS as a fairly low risk buy.  Initial upside target is the June high($91).  On the downside, a close back below $80.00 would indicate the 200D is still in control.

*Earnings are due next week(10/21/AM)*