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My work says that we should get a retracement from here. We have hit several
of my Price Objectives and they should act as resistance at this time. Ira.
Rakesh Sahgal wrote:
> 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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