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Interesting setup on daily. Note the two horizontal red lines which mark
the pivot points for Thrust Reversals. Note that the confluence of the 162%
expansion and the 86% retracement at the same price levels. Price has clearly
broken through and retested the dark gray LT trendline suggesting
price will move higher. The expected correction has yet to materialize and
breadth models have yet to budge from overbought levels even as price is dealing
with resistance. There is a reversal in here somewhere but the question is
where.
Earl
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