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Strategies & Market Trends : General market lab and commentary

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: tom pope who wrote (97)	2/6/2016 1:21:05 PM
From: Robohogs	Read Replies (2) of 668

I think you are right. I was just about to suggest folks pull a DAX chart. So great segue. Thanks. Folks will call that a H&S - not sure I agree but it kinda penetrated the line Friday. I think this is good though as it will "fear" this next bottom up. We are nowhere deeply oversold on Charts though but eyeballing many of them suggests we could be ST oversold mid to late week with a more durable level 1-3 weeks out. We intermediate term bounced out of oversold last week but are back oversold now (was scheduled to happen no matter what). But inducators I follow are nowhere the recent panic lows. IF we can bounce soon, that is either a bullish confirmation for higher lows or bullish non-confirmation for minor new lows. Notice though, my bias is things are overdone and I see things through that lens. I know it. A plunge through 1800s says wrong. Qqqs hit new low for move no matter PROBABLY but had new highs in December so higher highs with higher lows unless you count a ST bounce as up move which some will giving lower lows and highs. My very favorite strategist in next post. Confirming my biases too! Jon

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