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BKX chart update


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#1 K Wave

K Wave

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Posted 22 August 2015 - 10:11 AM

As I said last week, when BKX initially broke down, it looked like it was RIPE for a 900 MA breakout/fakeout throwover on weekly chart. After the weak bounce for a couple of days, bears are now ripping big chunks flesh off the bull carcass, and we got the weekly close under the key 74 level on Friday.

I now expect pretty much a full retracement of the last couple of years rally over the coming months...there will be some 1-3 day wonder rallies along the way, but those should just be selling opportunities, as BKX marches relentlessly downward for awhile....

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