Further to the weekly analysis above I will tag on this daily...

Further to the weekly analysis above I will tag on this daily chart.

The 9/13 ema's have crossed, Volume has increased and is above average, the labeled 'C' wave has just about reached 1.618 of the labeled 'A' wave, MACD divergence in place and there is a low, high, higher low and breakout to a higher high following a 62% fib test. One may reasonably expect the price to continue upwards here (I have a target of $54.6 shown here) but also expect the possibility a backtest of the $50 breakout point at some point.

What we don't want to see is another 'X' wave like the one at the start of the year (notice the lack of structure, no higher low etc.) and for the correction to continue.

LIT ETF Daily


A quick look at the AGY 1 hour chart and we can see AGY is set up with the price right at the 62% fib and the 9 ema marginally, but not convincingly, above. The price is relatively stagnant here waiting for buying volume. If it arrives we should see the price move up towards 18c.

AGY 1 hour chart