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Wednesday, August 10, 2011

One Thing Leads to Another

The McClellan Oscillator hit record historical lows by Monday's close, reflecting the extreme oversold conditions that were setting the stage for at least a technical (bungee) rally.


And as surely as night turns to day, a tumultuous Fed Tuesday summoned an appropriately proportional rally off of a major technical level. The afternoon plunge found support at the 38.2% retracement of the entire bull run from the infamous 666 bear market low and launched one of the strongest late-day reversals on the books.Rarely a dull moment in this 'too fast, too furious' trading environment.


Trade well.

-- Brinkley
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