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The Complete ETF Technical Rating (“TER”) Indicator is a complete of all 30 ETF rankings and will be checked out as a affirmation/divergence indicator in addition to an overbought oversold indicator. My paid subscribers are aware of it. As an overbought/oversold indicator: The nearer the TER will get to the 1500 stage (all 30 ETFs having a TR of fifty) “issues can’t get a lot better technically” and a rising variety of particular person ETFs have turn into “stretched” the extra of an opportunity of a pullback within the SPX Index. On the flip aspect the nearer to an excessive low “issues can’t get a lot worse technically” and a rising variety of ETFs are “washed out technically” an oversold rally or measurable low is near be in place. Final week the TER reached an excessive low (274) suggesting on the very least a counter development rally (possible a 4th wave) will develop within the days to come back.
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