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S&P 500
5,482.87
(
0.09%
)
US TECH 100
19,286.00
(
0.37%
)
Dow Jones
39,164.06
(
0.09%
)
Brent Oil
85.32
(
1.00%
)
Bitcoin
61,394.33
(
0.96%
)
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techcharter

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techcharter

Re: JLS post# 42410

Thursday, 12/03/2009 11:12:27 PM

Thursday, December 03, 2009 11:12:27 PM

Post# of 51804
JLS - XLF E-wave

The selloff from the october '09 highs to early november '09 lows was motive. Since then the bounce has been corrective. There is still a chance for one last push to complete the correction, but the surge in downside volume helps build the case the top is in. As with most of the markets, volume has been decreasing as price rises. This is typical in a distribution rally. The relative strength index has made lower highs as prices made higher highs. Again, this divergence is bearish.
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