Yeah I get why you're asking and I was hoping for it too.Three...

Yeah I get why you're asking and I was hoping for it too.

Three days of higher lows and challenging the bollie median but today it fell back into the continuation pattern. IMO, the longer this goes for the more significant a close above the bollie median will be to determine that this downtrend is bottoming. Unfortunately most indicators are still reading it as ongoing except for MACD which has been baffling me for over a month . You can see that MACD indicated a reversal back in early Jan but the SP isn't playing along. It's certainly got my attention and keen to see how it plays out for my own experience.



And you can see that the shorter time frame charts aren't giving off a direction either , hence the doji candles on the daily.


BIO sector is on the up this week but difficult to have any confidence in it until it pushes through that resistance level.


The growth in this short / hedge position at the time when the SP was holding support was disappointing. A bit over a mill has been added at a time when there's only a couple of mill being traded each day doesn't paint a rosy picture. I have no idea where they'll take it but I know they'll want a return in the short term.


Sorry I can't be more positive.

Cheers