Tentative and a lot of hesitation?.Yes SYA remained flat to...

Tentative and a lot of hesitation?
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Yes SYA remained flat to finish at 3.9, on a comparative smaller volume of over 74m shares traded.
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As I wrote last Friday and on weekend, I used the term "strangehold" by which Li stocks have been held And it has played out that way. Last 2 days Li stocks are generally weak - as if held up and don't want to go forward. Yesterday US Li stocks played the same way. So not a great look, but this was building, and based on my observation, I felt this is coming and hence had mentioned it last week.

Yesterday ALB barely held the level. 118 is one of the strong supports for it, and it just held that. If it loses that then there could be a chance to see another 52 week low in early 100s. So it needs to get to 120s and more importantly over 128. Till then we are playing in weakness.

SYA too playing the macro. Not getting any strong direction. Last 4 days the trading volume has been under 100m. Hence we are not seeing the volatility. Its either at same level or moving a pip. It isn't a bad thing, but ideally I was hoping we reach this stage after some form of rally, not when we are close to our yearly bottom - but it is what it is. Someone mopping up the shares in the evening, but not ready to go another pip - so am still not able to understand the play. They want to add, but don't want to raise the sp. Lets see if this continues.

Personally I am also playing with slight caution. Last Friday I had written on a few Li stocks that I had exited or reduced holding as I didn't like how Li macro was playing. Same I wrote in Weekly Report. I did the same for SYA. But today I picked up a few others, its still risky but some others fell 15 to 20% in few days, so trying my luck there. Now waiting to see when the controllers will let this move and will then get back.
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So what may happen tonight? Yesterday US indices eased a bit but Russell 2000 did better. SP 500 at 5218, falling 0.3%. Russell always seems to do better on down days, I think reason being punters take out from big tech stocks which have had massive runs and try their luck here. So its catch - 22 for us. We don't want markets to tank, as that will create a weak sentiment. But slight fall seems to be good, a rotation into resource/risk stocks. ALB at critical level of 118. It has to be in green or hold this level, else another uncertain phase could come in play. Although anything can happen on a weak sentiment, odds are not bad at this stage that ALB may at least hold, if not get to 120s. Will that happen? Lets hope so. All the best.