We've had 2 sessions of profit taking since Friday (half a flush so far but not low enough to call it that) Holding up reasonably well during this consolidation period (still no breakout or anything exciting for bulls) Maybe another session or 2 to make sure it's done & markets can continue the grind up squeeze
Fences are too high to jump today (I could be wrong) so just need some stability XJO needs to jump 8200 & PNV needs 1.41 today Impossible to reach so prob have to wait for tomo when those numbers get lower We could have a fake bounce today & dump again tomo to control the distribution & avoid any panic
In terms of support, if they flush, I have xjo going as lows as 8090 & PNV 1.18 (both levels keep uptrend intact while getting rid of day traders) Anything lower & I get concerned (could go back to market floor & start again if we don't push up again soon)
PNV holding 1.26 keeps an easy uptrend intact to keep track of (makes it easy on the way up with 70m short)
PNV Price at posting:
$1.27 Sentiment: None Disclosure: Held
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