PNV - Chart, page-19493

Disappointing effort from PNV so far
Updated chart linking to market levels

XJO bears reset on the 16th august
PNV bears reset on the 13th

Bears have been trying to short the market as soon as the market became range bound
I won't post my xjo chart but I'll put some levels on my pnv chart for comparison

I've marked the 1st 2 attempts by bears to take down the market (they failed both times to make a dent as the xjo kept grinding higher
PNV flushed to 2.46 on the first attempt but held up better on the 2nd
Overnight, which will be the 3rd attempt by the general market, the xjo was no longer range bound but was pulled back in line by US markets
PNV bears already had their 3rd attempt yesterday & plunged again to 2.49

I had the market flushing or a controlled downtrend by the end of the month but guessing which day has made it hard for bears
That puts PNV at 2.50 after the flush
Since we're already pricing in the flush, I have no idea what we plan on doing for the rest of the week

XJO can still grind up until Friday when it hits 8130 before it plunges (today's top is around 8115 if the market chooses to go for it first)
Or it begins its controlled downtrend from 8085 today (xjo has to close above this to maintain the uptrend)
Bears take out 8045 (magic marker from yesterday) & markets plunge
All I can say for certain is bull channels have held so far & until my long positons on the xjo get taken out, I have to remain with the uptrend

PNV should be sitting around 2.69 today & sell down to 2.50 with the market if that happens
Grind up to 2.75 with the market & then flush to 2.50 if that happens
Or who knows if our market just continues to grind up wiping out record highs first before it plunges

All I can say is, it's a gutsy move by the PNV bears
The fact these dumps can be done so easily means we have a lot of day traders trying to get in & out of the market with a lot of stops being taken out

If we don't get our market correction until October, markets will bounce back after the flush & make new highs which I marked with the blue arrow
Each night this week I'll have to keep an eye out for vix spikes, AUD dumping, bond yields climbing again & see if markets need a rest
Markets were still stable when I was typing this