Or is this just the middle of nowhere. In the very short term view that we take here at The Stool, that’s exactly right. We don’t know, and neither do they. Today is a day to sit and watch the grass grow, the paint dry, the ice melt. Whatever suits your fancy. I have nothing useful to add.
I look at this chart, and I see perfect neutrality. One thing we do know is that moves that start from neutral on cycle oscillators tend to be extended. On price analysis, we don’t have a tell on which direction that might be. Time analysis however, suggests that the 5 day cycle should be headed into a down phase. Possibly a head fake to the upside first with the 2-3 day cycle providing the emphasis for that..
That’s my best guess for now. Meanwhile, all trading in the 4453-4523 range is the paint drying zone. If the odds favor the downside, then they need to break 4453 to prove it. Otherwise, the uptrend still rules.
For the big picture.
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This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.com. View original post.
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