INR Chart Chat, page-527

Weekly data and thoughts.
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Please not that all my views are for short-term only, and I could be wrong, so please dyor.
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Lithium Sector Overview -
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From a weekly perspective, INR had a small drop, moved from 11.5 to 11. But it also made a new 52 week low at 9.5, so not looking good. Not looking great for a long time time. I have been constantly questioned about my posts on this thread, by some faithfuls. I track 90 ASX Li stocks, many US and Chinese as well. I also post across a number of Li stocks. I can tell you honestly, without malice, that posters on each of the thread feel they are different. Nearly every one of them. And that's understandable. That's why they hold. Its only that once you get away from small variations and look at sector as a whole that you can see the similarities. Some will not understand that. Now or never. The Gold sector is playing like Li sector from over 3 years back. Exactly. Blindly. So based on numbers, best to play sector, rather than stock. No advice. One of the reasons I do all these posts is to track the numbers. And I want numbers to guide me, rather than emotions. But I know, for many, win or lose is not a big thing, we live for emotions. So its all right. One day it may come. Much stronger than before. Lets hope.
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But there's a message. Some get too much worked out when I report numbers and my interpretation of numbers. Look back fro 80s, to 60s to 50s, to 40s, to 30s, to 30s, to 20s, to 10s - at least accept what's happening, the numbers, not my posts. I wish you well.
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Major price action indicators -

• ALB - gain of around 1%, so kept the gain from last week, and now over 20% from its lows - crossed 65 but could not sustain, for now
• Ganfeng - Gain of around 2% for week, Tianqi gain of around 1% - both were in positive last week as well
• PLS/LTR - PLS gain of 5%, LTR gain of 12% - so big gains, on top of gains last week
• Spot Price - Gain of around 1% for week, after a long time a weekly, not big, but consistent with how all the big stocks are doing

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So what do these numbers say?

• There are some signs that a bottom may have been formed, but no confirmation yet.
• Also no clear signs of reversal yet. There are no clear signs of reversal for the sector. But there are signs that it may be bottoming out.
• All big stocks which I use as indicator - ALB/Ganfenq/Tianqi/PLS/LTR - they are all above the first level, which is 20%.
• Second week in a row that all big indicator stocks finished in green
• Second time in recent play, LTR is making another attempt to break out. Last attempt it reached 85. Is back in 70s now, so an important play for sector coming there
• On the flip side, though Spot had a small gain this week, it is near in last few years low, so a long way to go
• Most Li stocks, both ASX and US, are still at or close to their last few years low, so they are not showing any signs of bottom/reversal yet

Personally I have not been playing Li stocks as I have mentioned a few times last several months.
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So what may happen next week? On Friday night, US Li stocks were in red. General markets had a big red. So a tentative may be on Monday and then wait for Chinese markets to open and provide some direction.
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Here is the Figures for the Week:.
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