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| NDX100 Daily Chart: 01/20/12 |
"3 out of 4 days this week the McClellan Oscillator has
registered incremental readings, not confirming the strength in the NDX100
‘space’. Overt Semi-Conductor (SOX) strength has a lot to do with this and the
narrowness of the advance in NDX stocks is a concern.
There
is a ‘gap’ on the daily chart (see Green square) and that is coincident with
the 50/200 ‘convergence’ zone. A pullback to that level (similar to the
S&P) would not surprise at all."(THE WEEKLY 01/20/12)
