Today was a good call from yesterday’s game plan. Again, I said any move today would be slight, and -$0.2 is pretty slight. I have a feeling this might become a broken record.Weekly Scorecard
|It seems to be in phase E mark up now as it has retested the upper trading range line and moved up off it. We are in a bit of equilibrium now and need something to get it moving, but slow and up is fine with me.|
Because there isn’t anything really different from previous days to analyze, I’m just doing a game plan for tomorrow and skipping the full analysis.
tomorrow’s game plan
Today creeped down a little, but nothing significant. Volume today was way low. Even though it closed -$0.2 lower, it still made a higher high and higher low from yesterday. Without an event to break the equilibrium, this analysis will just be a cut and past each day. As long as it keeps creeping higher, that’s fine with me.
Here I zoomed in on the weekly. Each day this week had decreasing volume, but we still ended the week with a little above average volume. It was a good week, it close at the highs off the retest. I think the trend continues next week as we move further off the upper range line. Though it might continue to move slowly.
If you look at those three bars of the last three weeks, it almost looks like it’s forming a wedge. We will see if that develops further. A technical formation might be what it needs so it can break out of it and get moving.