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DJUA Nearing Buying Opportunity-Part One

Dow Jones Utility Average Index (DJ:DJU)  
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DJ:DJU   Dow Jones Utility Average Index
Technical Indicators Beyond Technical Analysis
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indicator beyondta
The DJUA is nearing .618 support at the same time the Daily RSI is deeply oversold.
Elliott wave analysis indicates downward trend could continue for another five to eight trading days.
***Wave count will be illustrated in my next post.
If the DJUA bottoms soon the next rally could last for several weeks.

Mark

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