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Potential Thrust
Reversal in emini today requires a break of the 9/1 up thrust low at 1304.75.
There have been 2 prior Thrust Reversals in the September
contract:
- 5/11 when the up thrust
low at 1327.25 was violated. That lead to an 84 handle decline over 10
days from the 1341.50 high on the reversal day.
- 6/5 when the up thrust
low at 1277.25 was violated. That started the second leg of the 5/11
decline leading to a 70 handle decline over 8
days.
If the TR is not
signaled today, odds increase for a higher high during the next week or
two.
Earl
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