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Monday, October 14, 2013

Late Moniday

I'm going to be brief tonight, because I have a problem I have to take care of tonight, so I will have one chart and the price relative scan. The declining volume bounce continues, and it looks highly unlikely that we are beginning a new up trend; if anything, this could be a changing trend, although at this pint that is a guess. We have two critical levels to watch, the pivot points P and R1, and as long as we are between them, there really isn't much of an opportunity to get in front of a move, because it can go either way. Long term, the up trend is weakening, and I am still 99% convinced we are approaching a long term top.

I don; have time to do the new highs update, so I will have the price relative scan shortly.

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