Hi FolksIt seems that my speculation about a possible short term...

Hi Folks

It seems that my speculation about a possible short term bounce in the LIT eft based on unreliable short term FIB's ( 10 TD's) was in fact just a mirage. Something I thought I could see but as I approached it evaporated.

That previously unfilled GAP (43.46-44.23) filled overnight.

My speculative bounce will eventually show up sometime down the track. That short term downward FIB is now one day older reaching 11 TD's so far.

What next?

Well, in the distance there still remains a lower unfilled GAP at 37.70-38.04.while the current SP is 43.92. A bridge too far?

Maybe? However just look at these facts.

Six months ago 19 Jul 2023 the LIT eft SP was 67.32 and PLS on that day closed at 5.13. Six months is only a half Earth orbit around the sun and I have seen many, many orbits.

During that six month period there has been the filling of a number of previously unfilled gaps.
56.62-56.94
49.91-52.06
46.09-47.56
and last night 43.46-44.23
So four previously unfilled gaps, filled in half an orbit, seeing LIT eft going from 67.32 to a low so far 43.03. In that half orbit PLS has gone from 5.13 to a relatively recent low of 3.10, so far.

So why does that bridge suddenly seem a little closer?

Just the way I deal with the markets so that I am not surprised by what plays out, as always DYOR.

cheers Lies

PS Let's see what another half orbit brings.