Today was a bad call from yesterday’s game plan. Today was low volume, but it didn’t have an easier time moving up. It only ended down a penny, but I didn’t expect so much struggle.
Here is today on the 15 minute chart. Today was a bit volatile. It started looking bad, but then recovered and bounced in range. There were more up moves than down, but the down were more significant. The last candle might me encouraging. It looks like selling was being absorbed into the close by that long lower wick.
Here is today in the context of the last five days. Today was indecisive. The volume was low, but more than yesterday. Today and the last three days have made a series of HL’s, which is a good sign. The yellow line 200DMA seems to be a hurdle, but the HL’s show strength that may be able to push through it
Here is the weekly. Looking at the last three weeks could be a little warning. The volume has been decreasing and last week didn’t make a HH from the previous week. This week is too soon to really determine anything.
tomorrow’s game plan
I think we will get over the 200DMA on the daily and get to target, but not much more than that. The bulls showed fight by ending last week in a hammer, but may be running out of steam after the run up from the spring. EA is still proposed to be two weeks away, so I don’t think that is much in play yet.
I think we get a push tomorrow over or closer to the daily 200DMA.