New TA/Charting, page-14070

@Cabbie
"In the previous bull market LTR consolidated for 10 weeks and then 4 weeks at this 75/90 level."
Hmm in my book the first 10 weeks or so where taken up by a text book correction of wave (3) up as in an ABC down for wave (4) down from $2.19 to 87.5c, this was followed by a ~ 4 week consolidation/bottoming process between 87.5c and $1.25. So where does the 70c level come in to it is the question and may have been the cause of some doubt on your original statement in the first place.
After that SP started to embark on wave (5) up from 87.5c to reached an ATH of $3.195.

"This time the sp hit it a lot earlier than I thought and a consolidation here would be nice but it isn't the same market this time around."
You've got that one right it isn't the same market and not just because of the negative sentiment on Li. This time around LTR as per EWT is/was dealing with a correction of a higher level. A correction of the entire trend of 5 waves, from the very low of 1.7c to the ATH of $3.195. However a consolidation at these levels would not only be nice, but also very welcome. Having reached a Fib level of between 61.8%, which is considered quite normal, and 78.6% personally I wouldn't be surprised if the 87.5c support level holds and SP keeps on bouncing up from here. However at this stage we can't seriously exclude the possibility of SP reaching 78.6% retracement level at about 70c, which yes is the next support level down.

There are serious open down gaps above, which bag to be filled, the weekly RSI currently showing oversold at 25.6. In the daily and below daily charts there are very early indications that a turnaround at these levels could be possible. So something positive out of management at this stage could do wonders.
Here is my weekly chart to further explain my above points ...