Friday, October 17, 2014 10:26:47 PM
Diminishing volume barely survives the seller @ $0.29 w/ a $34.00 paint to close. Creates the "paper tiger" Bullish Engulfing candle pattern that acts as a prop for the charting cheerleaders.
Money Flow TA 3 Cycle 2nd chance: Money MOMO (ChiOsc) eeked out a slight repel to keep hope alive for reversal-- still need buy volume to show up above the 8EMA. Both monthly (CMF 21) & short-term Retail (CMF 3) (#2 on chart) saved the day from a sub-0.30 close again. Short-term (MFI 3) and monthly "Smart" (read: manipulative) Money (MFI 21) eeked up slightly more this session, which keeps hope alive that the seller(s) will continue to play it smart and temper further trading.
Buy volume (PVO) (#3 on chart) was a no show yet again; but as mentioned above, sellers appear patient enough to wait it out. Unfortunately drifting down could turn into death by a thousand paper cuts...
Raff Regression and Fibonacci Fan replotted based on Sep 9 top and Oct 9 bottom (Oct 8 for Fib Fan). Key price areas to watch: Fibonacci pivot support (S1) @ .434 and (S2) @ .307 (breached a 3rd time-- and more extensively -- today)-- sub-price points: .375 (Raff Regression) and .27 (Lower BB)
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