Monday, October 06, 2014 11:16:30 PM
The price stayed nestled between Fibonacci Pivot Points (P = Pivot & S1 = Support 1) on Volume approx 10 times less than 8EMA.
Money Flow TA 3 Cycle Hinting at Divergence: Money MOMO (ChiOsc) continued in a downward (negative) direction, which contradicts the short-term Retail (CMF 3) and "Smart" (read: manipulative) Money (MFI 3) upturn.
To note, the monthly cycle of Retail/"Smart" money direction continues its downward trend as the first of three remaining larger buy volume bars was removed from calculations...
... this accentuates the volume (PVO) conundrum as it pertains to direction-- no news up drift within a temporary illiquid float will eventually give way to flippers/"smart" money sell volume (especially when "loaded" within a larg(er) b/a gap).
(FTR: statistically a Bullish Engulfing candlestick pattern has no better than a ~50% chance of both "confirming" Bullish and generating a successful trade when track against OTC stocks for the past 3+ years.)
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