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It appears we are going to have a REALLY nasty day to the downside. This is
hugely negative on the heels of a day like yesterday. The good news is that
we are finally getting some very extreme oversold readings on technical
stuff such as moving averages of tick and trin, and some other extreme
readings using the adv/decl figures.
It appears that at least the early part of October is going to meet
everyone's expectations, but it also appears that with the extreme readings
already being generated it should eventually set up a great rally.
There are a number of ways to count or project where a potential bottom may
come in and I'll leave that to some of the others because I'm trying to get
ready for the day. It should be quite an interesting day!
Regards,
Tom Alexander
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