Ouch, what a difference a day makes. Disregarding global events, the chart has spoken. Mentioned that I expect a backtest to the 200sma, and today was the day. Yes brought about by other factors, but the chart was showing some signs of weakness (volume, lack of retail buying, MACD, BIO's all had a good recent run, etc). So the chart shows the pull back to the 200sma. However I did mention that I expect the golden cross (I was wrong/or too early), the SP has flat lined for 2 weeks, which implies that both the 50 and 200 are flat lining, and the cross is a few weeks off now. SP now needs to hold around the $13, worst case $12, otherwise a LH will be printed. RSI now below 50. MACD still printing lower. Also of mention the BBs are flatlining as they should and what I thought yesterday. Sorry to highlight the bad news. But hey, we are still have FA to save NEU SP. Hold tight, disregard the shorts and markets etc, IMO.
And we live in a save beautiful country, I have seen warfare first hand, and it's not pretty! Be glad to be an Australian and enjoy your weekend all.
NEU Price at posting:
$13.10 Sentiment: Buy Disclosure: Held
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