Thursday, October 09, 2014 12:13:27 AM
The price collapsed as feared (#1 on chart). Broke Raff Regression Channel (blue) and Fibonacci Fan (gray). Fibonacci support (S2) @ 0.307 key level to watch (was breached today).
Money Flow TA 3 Cycle Almost Bottomed: Money MOMO (ChiOsc) continued in a downward (negative) direction, which contradicts the short-term Retail (CMF 3) slight upturn (#2 on chart) but not "Smart" (read: manipulative) Money's (MFI 3) continued downturn.
To note, the monthly cycle of Retail/"Smart" money direction could drop into oversold territory as the final of three remaining larger buy volume bars was removed from calculations...
... this creates a volume (PVO) pivot as it pertains to direction-- no news increased downward volume pressure (#3 on chart) in a liquid float will flush out remaining flippers/"smart" money sells and prep the way for a bounce.
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