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hiker

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Posts: 8,859
Reply with quote  #1 
Dec 9, 2010

OEX weekly chart since 2004 with XLF weekly price action below the main chart body:

* so far, this week's OEX $554.33 intraday high remains below the $554.79 prior 2010 OEX high, and this diverges from the SPX achieving a new 2010 high (Linda Raschke has written over the years about the importance of this sort of SPX vs. OEX divergence)

* XLF price action also diverges from SPX behavior by not achieving a new 2010 high ... XLF remains below $15.64 horizontal resistance

* consider during future deep pullbacks, if any, that the $515 to $522.90 price zone has been instructive since 2008

the price action in this chart view will update "live" with a browser refresh, if
my linking steps were performed correctly ... feel free to save this link
in a new browser tab on your computer for later viewing as it changes with price action

http://schrts.com/hSpIqU

Attached Images
Name: OEX_weekly_closes_with_XLF_-_Dec_9,_2010.png, Views: 35, Size: 83.35 KB



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hiker

TW Member
Registered:
Posts: 8,859
Reply with quote  #2 
Dec 10

OEX achieved its new 2010 intraday high today ... five minute chart data shown below for XLF,  and OEX is below the main chart body

Attached Images
Name: XLF_5-min_with_two_moving_averages_-_Dec_10,_2010.png, Views: 30, Size: 51.31 KB



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Being honest may not get you a lot of friends, but it'll always get you the right ones. - John Lennon

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