Bless you @syzygy. Now if I can just become a true chartist
I'm sure the dip buyers are salivating and having trouble caring for things like moving averages or regression channels. What's interesting is LIT's loose correlation with the S&P/ES/SPY lately. I'm not sure whose leading who, though . If the S&P skips a few beats going into a government shut-down threat (silly as it all is), I reckon things like LIT will follow in the immediate term. Since the index is so far above the 20 day moving average - and ES/Futures March structure is so sketchy the last 10 or so sessions - Anyone would be wary of this ETF until there is some consolidation. How that relates to small cap lithium plays in your neck of the woods remains to be seen. Note that NYSE breadth and NYSE TICK has in recent sessions been sketchy as well.
. If the S&P skips a few beats going into a government shut-down threat (silly as it all is), I reckon things like LIT will follow in the immediate term. Since the index is so far above the 20 day moving average - and ES/Futures March structure is so sketchy the last 10 or so sessions - Anyone would be wary of this ETF until there is some consolidation. How that relates to small cap lithium plays in your neck of the woods remains to be seen. Note that NYSE breadth and NYSE TICK has in recent sessions been sketchy as well.
