It should also be remembered that the XJO is down less than -5% since its high in early January.
That's within the definition of a pull-back.
From the high in early January till Friday, the pull-back has taken 21 trading days - so that's getting well into the "weeks", although still brief.
The pull-back in the XJO has also sketched out a classic ABC downtrend - not a straight down movement.
That also suggests that this pull-back may be over.
RB
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- XJO Weekend Charting and Chat - 09 Feb 2018
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