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The weekly chart certainly does appear to be scary.
There are still a number of scenarios to the upside which could unfold via
the Delta points.
So far we have only had a "reaction" as opposed to a "move" to the pending
intermeidate and medium term low. This could be a sign of strength to the
upside for the intermediate term high point due the end of the month. Plus we
are still sitting on top of a long term high point.
But I don't trade by considering various scenarios, just what is currently
occuring and everything right now to my eye is still saying down as of
Fridays action.
Still short.
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