An updated PNV chartBasically the same, but now has a stupid...

An updated PNV chart
Basically the same, but now has a stupid flush, which I'm still annoyed about
The only good thing out of that flush was more trapped bears now which should let us tag the 2.69 or 2.72 levels
No guarantees they cover & they could keep doubling down
We do need to break through & start using 2.69 as support (top green line)
I don't think we can hold much longer
There is literally no support here
Which explains how easy it was to flush
We shouldn't break that until report tomo
Which means more flushes are still possible until then

As we saw yesterday, the magic level the xjo needed to breach was 7895 to prevent the downtrend from forming
It did that & after our market closed, it tested it twice
Held nicely after hours
Today's magic number is 8025 at the close
If the xjo remains range bound, we can't breach & that will cause problems & we'll just sell all day
Have to wait longer with the slow grind up until the proper flush comes

Today is option expiry day, so anything can happen
As long as the xjo can hold 7985 or worse case scenario 7965, I think we can get to 8100 before the big flush
That should give us ample time to break through
(holding 8005 or 8025 by tomo is even better but moving up takes time)

The next 24hrs-48hrs are going to be crucial not just for PNV but for markets in general

Once we get through this period I won't have to post again until late September or October
So you won't have lengthy posts any more
Hahaha