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It’s a Start

This is a syndicated repost published with the permission of Slope of Hope – Technical Tools for Traders. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Yesterday I noticed how the emerging markets fund (EEM) was in a reliable channel for the past year and it seemed plausible that we’d start heading south. Although one shouldn’t draw conclusions based on just an hour of trading, at least we’re off to a decent start. Personally, I’ve got March $52 puts on this:

Here is the chart with the %R indicator, illustrating its fairly relatively “cycling” behavior:

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