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| Naz Futures Daily |
I deleted all the trend lines to get a clean image of the action around the 20day WMA. The bears have been putting up quite a fight over it as you can see. Today was another rejection, and tomorrow's number is about 2721ish. Those two big volume days suggest a lot of positions are changing hands.... and since we know the commercials are still heavy on shorts, I'm guessing this Friday's COT report will show they have been reducing short positions into this decline.
