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IXIC Overbought

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TVC:IXIC   NASDAQ Composite Index
Checked out some monthly charts this morning before market. IXIC overbought on the RSI , Stoch 14/3/3, and on the Madrid Bull/Bear sentiment. Still trading quite a ways above the 50 day MA and the most recent support level in monthly view of 10900. Seems unlikely that the recent selloff will do enough to bring the index back to normal ranges. Further indications that more downside is coming in the tech sector.

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