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Another test of the lows, another rally off of them. Though the ranges of the rallies are getting smaller. Following the same strategy from the last few weeks here's a 15-min. chart of the QLD. Yesterday we had a 20- 50- EMA crossover and shorting retracements have been working. The end of the day appeared to be a short-covering rally so we'll see if price can hold above this 50-EMA.