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Monday, August 29, 2011

MNRO

MNRO topped out in early July, and pulled back to below the 50dma, normally a bearish development, but on the way down the price relaitve line refused to drop, and less than halfway through the decline, it reversed an started heading up, hitting a new high even before the initial decline hit bottom. now that the downward pressure has been relieved for a while, price popped up like a cork being held under water that suddenly work's itself free. This will probably go up as long as the price relative line is rising.

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