Thought I'd post a chart, maybe my last as 1, the HC.IMU threads as they are turning to s**t, and 2 I don't have a heart, so my opinion on IMU means s**t aways. Not attention seeking, but I seriously can be bothered looking at IMU threads and scrolling thru crap each day. Grow up people, value add!
To point out a few obvious things here, one of which volume, I stated months ago, without this the SP is going no where. Just fact. Until there is a cataylst for the SP to turn, via a positive Ann, you might all as well just turn off the computer and walk away for a bit. Volume has picked up, but still not in my zone of 50-100M/day, and most of it is red. Expected 1% of traded volume of 750M SOI, is not a lot IMO.
Technical anaylsis requires some pattern recognition, and lots of technical algo's, these days done by computers, years ago we did it by a white board.
So as for other indicators on IMUs chart;
1. RSI often will retest it's high or low (wrote another upload on this a while back), so I am expecting the RSI to test the oversold again, but the big difference will be in the 30-20 range this time, not <20. this will create diverge, IMO.
2. The SP has still not had capitulation IMO. Yes we have had some solid red candles, but none have hammer headed or doji'd. This will then create the diverge with RSI as per above. I look forward to
@Fid analysis on this when the time comes.
3. Support levels, the obvious one is 07. However to create the hammer or doji. Should this occur I'd expect low 6, or support around the 05 level.
4. BBs are resetting. Candles remain below the 8.
The big sell off Oct last year was generated by the wording in the CR. Hence we hit 039. This time we have another possible reason for capitulation, EOY tax selling. This could create another fall. Obviously AIMO and no crystal balls.
Lastly, some investors/speculators were expecting a rally in SP in Feb/Mar. There was so much pumping going on in both FA and TA thread.
I tried to temper peoples thoughts/expectations, but obviously got drowned out. So I say again, please Do You Own Research. Only invest in Spec Bio if you have the Testicular Fortitude to hang in there (no offence ladies, just saying...). Otherwise trade it, or invest in CSL (e.g. obviously).
I wish you all the best with your IMU invest and hold tight. 5 irons in the fire, one is bound to get hot, AIMO. Risk v Reward!
(20min delay)