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Strategies & Market Trends : Longer-Term Market Trends
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To: Perspective who wrote (409)5/8/2008 7:16:05 AM
From: AllansAlias   of 3209
 
Not much changed yesterday. First time in a good while that it drained all session, but technically, not much changed. The rally continues to be overlapping with weak internals, but the pretty pictures have not turned down yet imo.

I would say, the next days, key on the $XMI. It has been lagging a bit lately as SPX/Nasdaq made marginal new highs. It has built this congestion, slightly down-sloping, which should mean bullish flag that resolves to the upside. If it fails, it is a Hound I think.

Here is $XMI off the Oct high:
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