The May 3 highs exceeded the prior highs, while the ensuing drop took SLV below five-week support.
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The sharp drop in the summer of 2011 took the ratio below its EMA as it developed a five-month trading range, line b.
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The 5% sell-off over three days last week in the Dow Jones Industrial Average took the DJIA below the closing low for last December of 10285.97.
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