Last weeks I posted this info about ALB when ALB had fallen to 86.99.
"Overnight ALB fell 6.63%, From my records these are the unfilled gap that have been filled since I started the process. After each gap filling I thought that it's a long way down to the next lower unfilled gap. 126.49 - 129.03 Filled 120.69 - 123.00 Filled 106.33 - 113.07 Filled That last gap filled on the 14 June. Todays close was 86.99 that's a long way down from 106.33. So here are the still unfilled ALB gaps. Small gap at 79.04- 79.06 which from 106.33 looked insane, but from 86.99 not so crazy at all. Big gap 68.42 - 70.51"
Since then the 79.04-79.06 gap has filled.
People might question why I spend so much time looking at ALB. It's by far the biggest component of the LIT eft. In my third chart I will show the comparison between the PLS and ALB chart, there is a definite correlation. Their charts have similarities as well.
In my first chart I look at ALB showing recent waterline levels, that for a time provided support to the SP, followed by the leak down to the next lower waterline. On the chart two waterlines and two leaks so far. It seems to be currently searching for the next lower waterline. Also on the chart I have included the last two recently filled gaps.
Second chart looks at PLS. Showing two waterlines. The first (pink) had some significant dives but surfaced to the waterline within days, followed by the leak downwards. The possible second waterline (blue) just seems to be forming in similar fashions to ALB last blue waterline. I have also included the next lower so far unfilled gap at 2.60-2.62.
Third chart is a comparison chart with ALB being the purple line.
Make of it what you will from the 3 charts.
cheers Lies
PLS Price at posting:
$3.07 Sentiment: None Disclosure: Held
(20min delay)