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Monday's price action seems to be a bit exaggerated in relationship to the
various dollar weighted exchange ratios. The cboe was the lowest at nearly
0.25 whereas the other exchanges were neutral near 0.5. The composite was
near 0.35 at the lows. Those are "buy" levels or exhaustion types of levels
accompanied by the oversold Trin and TrinQ. Normal sequence now would be to
look for the reaction bounce followed by Cumulative Volume and On Balance
Volume divergences on the retest.
bobr
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