JI
jimkane
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Be patient. Ultimately, though, it's going to do what it's going to do. It's more fun when the premise plays out and the register rings for us, but it's about the series of trades, not any single one. I know you know this, M, so this is for everyone else.
JI
jimkane
Rep: 3,058
Posts: 33,089
And yes, .447 at line at 12.50 should turn it if the premise is playing out in 'classic' form.
JI
jimkane
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Posts: 33,089
Okay, it's getting wild in here. They know they are boxed in and must decide soon, and they feel like a cornered animal right now...
JI
jimkane
Rep: 3,058
Posts: 33,089
Yes, it's a real traditional 'coil', and it should explode up to close the gap, or get to the Thursday low when it uncoils. I think that is almost inevitable. Which way, we have to wait and see.
JI
jimkane
Rep: 3,058
Posts: 33,089
But we all know the bias has been strongly 'up'. It would be curious if they broke it down to the Thursday lows, a bigger stop sweep, and then up hard. But they have been such buyers lately they like to just buy the smallest dips. If it breaks down and sustains, that's a possible sea change to me.