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Note that the Breakout Indicator is Now Reaching Into Overbought Territory
By: Marty Chenard | Friday, January 25, 2013
It's courtesy day again where we will share one of our subscriber charts that
we have been posting in the past few weeks.
This particular chart was posted last Friday, and is a bar chart with a proprietary
Ribbon Chart and Breakout Direction Indicator.
This particular model is in our final research phase, but for now, we can
say that the use of this Ribbon Chart along with the Breakout Indicator helps
eliminate the "noise level" that can be confusing to investors when the daily
bars are highly volatile at junction changes.
Like last week, I am not going to explain this chart today, because even if
you are not a technician, you either "get it or you don't", it is that simple
to understand. FYI ... do note that the Breakout Indicator is now reaching
into overbought territory.
So, take a look at today's chart, enjoy it, and have a great weekend.
Marty Chenard is an Advanced Stock Market Technical Analyst that has developed
his own proprietary analytical tools and stock market models. As a result,
he was out of the market two weeks before the 1987 Crash in the most recent
Bear Market he faxed his Members in March 2000 telling them all to SELL. He
is an advanced technical analyst and not an investment advisor, nor a securities
broker.
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