SP today

Chartist would know that yesterday was an engulfing candle, which means it's going to be a dark candle today.

Prediction:
1) Slight open up (as buy and sell depth favours the buy) at 60c
2) Drift up slightly before touching 62c (i.e has to be below VWAP of 65c to confirm retrace), as those sold yesterday buy back in thinking of a rebound.
3) Seller sell backs with a range trade around 60c
4) Break the back down past 58c.

My target is around the 54c mark - as it should break through a support level to lure in more sellers) - i.e. false break.

Engulfing candle tends to have 2 or 3 down days so keep your gunpowder dry for a good low risk entry.

Those who stacked up the buy side with fake buys yesterday have done with great success selling into the highs.

My hope is that it do a reversal but TON tends to follow SYR - and SYR buy-sell ratios have started to change yesterday.

cheers
pcyc