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Take venture capital investment as another indicator of this balance of power tech shift.
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Though it had not been invented yet, one of my favorite technical tools, the on-balance volume (OBV) indicator, which was developed by Joe Granville, gave some very interesting signals.
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It should be noted that even if the December lows were broken, the long-term positive action of the on-balance volume (OBV) indicator would still keep my long-term trend analysis positive.
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Taking this as a base prediction, monthly vehicle sales for the balance of this year should be a good indicator as to trends in the overall Chinese economy.
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Though not featured in this article, the recent highs in the major averages were also confirmed by the weekly on-balance volume (OBV), which is also quite a reliable indicator.
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