Where is the bottom?.From a weekly perspective, a drop from 73...

Where is the bottom?
.
From a weekly perspective, a drop from 73 to 64.5. Volume moderate from WR1 perspective, a bit on lower, all this week we didn't cross 1m on a day. So no strong direction on volume.
.
So what is happening? I feel we are playing the Li macro. No strong direction. Macro drifting downwards, and I felt WR1 just followed that. From a numbers perspective, many may want not to lose 60s even on weakness, otherwise Feb low of 51.5 may come into play. When it reached 149 many may not have thought we will come here or discuss those numbers again. But Li macro has been brutal to most stocks and WR1 is not escaping that, for now. For upside, a real change will only come after CR price of 85 though getting towards high 70s may give confidence that we can hold mid 60s as the low of this phase.
.
Li macro is not in a good state. ALB that I use as a measure is within few percent of its 52 week lows, at 93, low at 90. And that is a slide from 130s just some weeks back, which if reaches there is a 50% gain. That 130 range itself was not a good state. Current state is alarming. There is nothing positive going on in the sector at this stage. A very trying situation for most holders. General markets made new 52 weeks high for several weeks in last few months, rising nearly 50%, but Li sector did not get any benefit out of it. It now seems the general markets are looking like making some consolidation/correction, don't know what will happen to Li sector, if that happens. So it is all gloomy at this stage. But as they its darkest at dawn. Some day it may change. And when it will happen, it could very volatile. And very sharp. So its individual risk/reward at this stage, should I continue to hold, or buy, or get out and wait for confirmation of reversal and then buy back. There are no easy answers. Each of us have to decide what to do, what is our time-frame, expectation, and capacity to see further down before it returns. Lets hope we are getting closer. I still feel we may bottom in the next couple of weeks and could see some decent positive movement by September. This also based on previous patterns. But its my thoughts, I could be wrong, so please dyor. So lets see.
.
Personally I have not yet bought. I want to see some change in trend in Li macro. Don't want to pick bottom, so looking for trend reversal.
.
So what may happen next week? I am not expecting any fireworks unless we get a defining announcement. Otherwise we may play macro. I still feel if we can hold this level for all the down which is happening in the sector, we would be well placed to reap the rewards when it does turn. Will that happen? Lets hope so. Enjoy your weekend and all the best.