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Wednesday, March 18, 2015

Wednesday, 3/18/15 update

Al's Indicator strikes again:

The Indicator bottomed at a reading of .772 last Tuesday, a reading below 1.000 is considered to be in buy territory.

The big question is whether the rally since the mid-week lows of last week is a 2nd wave in a developing bear trend or the start of another run to new all time highs.

Bear count in the ES looks like this:

If their is in fact a bear trend developing, the r/r here for a short trade is pretty good - the bearish count is invalidated at the prior ATH of 2117.75, around 20 points from today's close.
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