TA discussion, page-4710

Buuls and bears in an arm wrestle finishing about square for the week, as it has for 3 weeks now. Interesting to see how the weekly SP range has tightened considerably. The range this week is 1.5 cents or from 53.5 to 55 cents. The Average True range over the past 13 weeks is about 6.5 cents so the contraction is quite significant and generally a sign of someting brewing..

Usually I would be thinking of a looming move in these condtions and on the daily the Bollinger bands are flagging a potential move as the bands have narrowed into the appearance of a clear squeeze. However a band squeeze can run for quite a while before building enough pressure for a breakout. A combination of active bots recently and enough active sellers have pretty much provided enough supply to keep the buyers in check and created this stalemate we have now.

In the past we have been usually faced with a sell down leading into previous 4C's and the same period in 2016 provides a good example of this. So far that hasn't beeen the case as there have been enough buyers to take up the slack from the sellers who choose to go to the sidelines this time. With 2 weeks still to go I would be reluctant to make a call on how it will play out this time, but so far so good.

The 4C is the elephant in the room now and unless there is some leakage in the meantime to signal something one way or the other we sit and wait I guess.  Note the weekly MACD is green so really just maybe the bulls are a couple whiskers in front.  Enjoy the break....

Weekly