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Years ago there was an article in Stocks and Commodities magazine titled
"TEI" or "Trend Exhaustion". It is a ratio of new lows divided by declining
issues. The fingerprint of a low is when the ratio makes a peak, backs off
and then makes a lower peak. It seems to work better on price bottoms than
on tops. The attached chart shows the current state of affairs.
enjoy,
bobr
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Attachment:
Description: "TEI.gif"
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