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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Magnatizer who wrote (69183)11/19/2022 8:46:17 AM
From: Magnatizer1 Recommendation

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Doug R

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Didn't hit the 60-80% long on the index fund but did make it to 50%. Will work to get nearer the target on Monday as Thanksgiving week is traditionally a bull run on Tuesday and Wednesday.

The Daily CCI 55 charts


At a minimum, I like a test of the 34400 area




Perhaps the most concerning chart at daily scale. Bottom of a horizontal channel rejected it pretty good but then it found support on a retest of the downtrend channel. Normal behavior but it does need to recover the horizontal above soon or a return to the downtrend channel for a test of the bottom is likely.



Wiggle on +200 CCI level placed several new trendlines, a horizontal channel and two associated tline crosses on the chart. This one is set for many battles through the end of December. Still my favorite play as the new China but this does not look like a swing traders friend here.


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