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What I am inclined to think, is that someone found a little mathematical
gimmick that seemed to show support and resistance areas because it knifes
through the middle of the usual retracements and sold it.
That doesn't mean that is useless or that no one should use it. It just
means that the basis of the indicator is a contrivement. I could be all wet
but that is what I think.
Prosper
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