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hiker

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Posts: 8,872
Reply with quote  #1 
Feb 6

daily XLF, showing price horizontals derived from Ted Burge's work

(Ted's chart work - http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2684038 )

- CCI-20 now slightly resides above the zero line

- MACD:

this represents the second positive cross since November

since November, the macd positively diverges from price...which is favorable

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- this chart setup is displayed to facilitate use of Glen's "CCI system" as described in this prior post -

http://forums.technicalwatch.com/tool/post/fib_1618/vpost?id=3245042



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hiker

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Posts: 8,872
Reply with quote  #2 
Feb 6

BAC is ranked as the third component of XLF, as a percent of total XLF assets.

this is an excerpt of BAC discussion Thursday, February 5, at the live "TA chat" room at this site -

2009-02-05 09:45:07 [Message] hiker ->  $4.03 is BAC support 2

2009-02-05 09:46:06 [Message] hiker ->  BAC needs to remain below $4.19 for bears, fyi

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by Thursday's close:

BAC staged a 28% intraday price reversal on Thursday, following the early morning price low of $3.77 which represented a new multi-year low for BAC

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