The action seems great the last few sessions but can't help but feel like I've been here before. Looking back at the chart, we have. Several times. Huge days seemingly out of the blue followed by consolidation all the way back to where we started or lower. Each time, the highs have gotten a bit lower. If this is the same type of action I expect we won't spend any significant time above $2 and this volume will be gone by the end of the week.
We saw more volume and similar action in may, july and September of last year and april of this year. When you look at those events our current volume is less than half.
It's exciting to watch but since this has come, yet again, without any actionable news I fully anticipate the pull back.
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