The stock tried and failed to retest the post-earnings price level late last month.
Price late last week hint that crude oil futures prices may retest the August low.
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Many investors had been expecting the EUR to retest overnight to downside levels again.
Negative EUR investors are looking for a retest of the 1.30 big figure support.
Investors are expecting the EUR outright to retest the 1.2930 in the short-term.
Price action Thursday and early Friday now hints crude oil futures prices will retest the August low, or below.
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The dollar index is in a posture where it could head back down and retest the recent 2.5-year low in the near term.
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He sat in cash from late 2001 through April of 2003, when the bull market was confirmed by the successful retest of October 2002 lows.
The dollar index is in a posture where it appears likely to head back down and retest the recent 2.5-year low in the near term.
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In fact, the MID was stopped dead in its tracks at the 1, 000 level on Friday morning, and the RUT never attempted to retest 850.
If you are a fan of historical tendencies, you should probably be looking for the bears to retest the recent lows over the next few sessions.
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If it's not in the normal range, re-treat with more sugar (juice, candy, glucose tablets or another source of sugar) and then retest in another 15 minutes.
Despite his conviction that stocks will remain in a bear market until a retest of the lows and a strong move up on high volume, Martchev's portfolio is currently 70% long on stocks.
If that breaks, which the near term trend pattern suggests it will, the U.S. dollar will be vulnerable to a retest of the Oct. 17 low at 78.93 and the Sept. 14 low at 78.60.
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That retest may or may not happen.
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At their peaks, global stock markets, including that of the U.S., were extremely overbought above their long-term 200-day moving averages, to a degree that almost always results in a decline at least down to retest the support at that moving average.
Technical indicators are in their overbought zones where the next short-term move is usually back down at least to a retest of the support at short-term moving averages, and below the moving averages if the technical indicators are going to reach their oversold zones before turning back up.
As most investors are aware, investor sentiment has been at levels of bullishness and confidence usually seen near market tops, and the major market indexes are as over-extended above their long-term 200-day moving averages as they usually get without at least a 10% to 12% correction down to retest the support at those moving averages.
My primary point is that while we could easily see the market move sideways for a couple more weeks and perhaps even see a retest of the low, it is beginning to look like the opportunity for the bears to really get something going (ala the -16% correction seen last summer) may have come and gone.
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