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Charts courtesy of stockcharts.com

Wednesday, August 3, 2011

BIP

There are a lot of negatives on the BIP chart, particularly the act that this barely cleared the previous high and closed well off the high of the day. Also negative is the bif drop in CMF just before today. However, all that is outweighed by the price relative line, which was rising while price was dropping, and hit a new high yesterday.  This is probably a lot stronger than it looks.

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