Hmm. LIT ETF pre-open was around the $40 mark. On open, it suffers a sharp 4% drop which is followed by a massive volume spike - 351,000 shares trade hands - and then bumbles along slightly above the days low and will probably finish down a couple of percent. 1.9M volume for the day, which is three times the average of around 668,000.
Perspective: We’re at the same point on the chart as we were in early December and the ASX Li stocks have had a stellar run since then, so...
I don’t know what this means. I’m not a TA guy, so perhaps others can see something that I can’t (please comment!).
Today: The Li sector could follow the previous (December) trend - lead by strong positive sentiment about the ORE deal - and recover some of the weeks earlier losses. Or, there could be a muted response and we end up flat or slightly red again.
Orrrrrr we could see a widespread collapse of the worlds financial systems as all the punters jump aboard HMAS Crypto for its final voyage across the IC(O) seas. I don’t want to ruin the ending, but it does sink...after running into a regulatory iceberg. There are no survivors.
