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Friday, November 16, 2012

Intermediate trend change

The intermediate trend is still neutral, but is tilted towards being bearish.  This is something that did not happen in the pullback into the June low.  This shows we have a bit more technical damage so far this time.  We will have to see what happens now.  If the market mounts a rally from here, this weeks low is very important.  A weekly close below it could increase selling pressure significantly.

Bob

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The information in this blog is provided for educational purposes only and is not to be construed as investment advice.