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Wednesday, October 15, 2008

USB


USB has a very unimpressive chart until you look at relative strength. This is one of the stronger banks, and looks like it is basing here. It has pretty strong support around 16.50-27.00, resistance at the 50dma. CMF peaked last month, but if it reverse here, or even stay about where it is, that will show more accumulation than distribution. If the market turns in the near future, this one could do quite well.

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