Discomfort among market participants isn”t
Discomfort among market participants isn”t necessarily bearish. Discounting prices can be like stretching the rubber band to the point of it snapping back up. But intervention isn”t necessarily bullish. Without an explanation, price can”t discount the “news.” This environment is not conducive to trading. I”ll have more on this later, but for now — following are updates to today”s parameters, and then other setups I”m monitoring…
UPDATES
MCIG — Testing today”s .67 maximum pullback. Closing under it would mean this attempt to resume the rally had failed. Closing back above at least .745 support would be bullish.
TRTC — Testing its 70 maximum pullback, so recovering its .80 support would be bullish (on volume).
EDXC — Testing its .21 maximum pullback on expanding volume. Awesome if recovered today, dangerous if not.
UTRM — Testing its .0073 maximum pullback. I wouldn”t feel comfortable holding this any lower intraday, or if it fails to close positive.
MONITORING
VAPE — Monitoring for a buy signal, it has now fulfilled the lower-end of my original 13-15 target, as well as the additional point down to 12.25 that was required by the delay.
MDCN — Monitoring for a third-day surge pattern, which was fulfilled today (albeit barely). If today”s reaction down is too aggressive, a retest of today”s high could become likely.
PMCM — Monitoring because the open was firm. Closing above the open”s .049 high would start to be bullish.
Also monitoring TAUG and FITX…
