I should add that both the 40mil and 22mil downwaves were easily enough volume to break below their previous lows.
But neither did.... think about it.
Why not ??
Here is the CME IO Futures wave chart, constructed from daily closes, so it is roughly/vaguely a three day chart.
The values have changed a little from the previously posted chart, as I have changed the variables to make it easier to read.
cheers
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