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Sunday 13 November 2011

Still bullish - but with a lot of caution

The McClellan Summation Index (an indicator more for mid and long term patterns) in combination with the RSI used to spot peaks pretty reliable in the last few years. There is still a bit of space to the upside but in my point of view this is definitely limited. I'd rather see a couple of weeks to the downside or at lease a sideway pattern before we move higher.


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