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Ira
1. The NDX is about to hit it's 35 week MA from below at about 1600 odd.
2. Adaptive Stoch(Clyde Lee's indicator) on the daily is quite overbought.
3. Adaptive Stoch on the weekly is in the middle range - so intermediate
term trend is not over extended.
4. Adaptive Stoch on the monthly is quite oversold but has still not
changed direction and remains negatively poised below the trigger line.
Could this probably be a pretty good squeeze? The velocity of the market
has also been quite high. Quite like a vicious bear market squeeze of the
retail shorts who get all gung ho at the bottoms? The market comes down to
test these bottoms and the monthly turns up when it goes back up again -
providing a conclusive end of the bear?
Rakesh
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