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Bank of New York ADR index

21 Jun 2017 ‚óŹ 07:13 AM

The last time I published this index it hit the monthly Bollinger band in March. But has stretched higher since to the 66% retracement mark shown by the blue line. Weekly momentum is rolling over. The line is at 142. So unless we get past 142, A-B-C up maybe complete as shown and we should expect the next major wave lower starting from here. The ADR index of global ADRs works like a world equity index.

adr-210617

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