AI
Monday, June 12, 2017 2:02:55 PM
yes I completely agree...not so bullish now...
AVXL lost its short time frame bullish rally pattern today. as happened several times before from within this Range Pattern, when we got a rally to the top of the Range, the pullback had a support zone around 5.75/5.80/5.85/5.90 area that represented a chance at this balance point, to craft a bullish pattern, with higher steps up and higher lows holding, and that first critical holding support zone has always been here at the same 5.85 area. NOW, we just saw last week craft a pullback to the 5.85 ,where the key moving averages are, everything was centered right there, and ending the week ... right there... was the next set up for a rally at this same launch pad. and what did today do? plunged right down thru it like it was nothing, and hits the 5.70 support step. Technically, Chuck, as you know, this station at 5.70 is still one or two steps above the 5.60 low, so it still can be called an "upward pattern, but its losing the bullish momentum and bullish wave structure.
Its fallen down back into the Range Pattern,I have to say. that was happening even last Friday when it failed to hold the 6.00-5.95 area. This is demonstrating a Range Pattern. at tis point, while 5.70 is certainly a buy target, so are the lower steps in this range pattern and they are all in play again, even down to 5.50 and now if the MM's want to generate more selling and bleeding its possible the 5.30 target zone could come into play in this kind of pattern. Ive been waiting for that target at 5.30 as my main target bottom ,hasn't been hit all this time, but who knows what the MM's will do at this point.
More neutral now than bullish, these pullbacks have to hold at higher support steps to make the technical rally wave bullish. ,in my view.
There is a balance point around 5.85 area that demarcates the shape of a rally wave, versus a Range Pattern. Now ,as this plunge falls again below the critical balance at 5.80-5.90, it becomes the Range Pattern again. I think that's about all there is to say here. 5.70 is a buy target. as was 5.85 last week. as will be 5.65 when the time comes and 5.55 and 5.40 and 5.35, etc... The MM's are moving the price where they intend to take it. and I guess it looks like they don't want to see the next rally begin yet. just like the last 2 months, stuck in a Range Box again.
http://www.bing.com/videos/search?q=stuck+here+in+lodi+again&&view=detail&mid=C40B729B6C5EA62A36BFC40B729B6C5EA62A36BF&FORM=VRDGAR
AVXL lost its short time frame bullish rally pattern today. as happened several times before from within this Range Pattern, when we got a rally to the top of the Range, the pullback had a support zone around 5.75/5.80/5.85/5.90 area that represented a chance at this balance point, to craft a bullish pattern, with higher steps up and higher lows holding, and that first critical holding support zone has always been here at the same 5.85 area. NOW, we just saw last week craft a pullback to the 5.85 ,where the key moving averages are, everything was centered right there, and ending the week ... right there... was the next set up for a rally at this same launch pad. and what did today do? plunged right down thru it like it was nothing, and hits the 5.70 support step. Technically, Chuck, as you know, this station at 5.70 is still one or two steps above the 5.60 low, so it still can be called an "upward pattern, but its losing the bullish momentum and bullish wave structure.
Its fallen down back into the Range Pattern,I have to say. that was happening even last Friday when it failed to hold the 6.00-5.95 area. This is demonstrating a Range Pattern. at tis point, while 5.70 is certainly a buy target, so are the lower steps in this range pattern and they are all in play again, even down to 5.50 and now if the MM's want to generate more selling and bleeding its possible the 5.30 target zone could come into play in this kind of pattern. Ive been waiting for that target at 5.30 as my main target bottom ,hasn't been hit all this time, but who knows what the MM's will do at this point.
More neutral now than bullish, these pullbacks have to hold at higher support steps to make the technical rally wave bullish. ,in my view.
There is a balance point around 5.85 area that demarcates the shape of a rally wave, versus a Range Pattern. Now ,as this plunge falls again below the critical balance at 5.80-5.90, it becomes the Range Pattern again. I think that's about all there is to say here. 5.70 is a buy target. as was 5.85 last week. as will be 5.65 when the time comes and 5.55 and 5.40 and 5.35, etc... The MM's are moving the price where they intend to take it. and I guess it looks like they don't want to see the next rally begin yet. just like the last 2 months, stuck in a Range Box again.
http://www.bing.com/videos/search?q=stuck+here+in+lodi+again&&view=detail&mid=C40B729B6C5EA62A36BFC40B729B6C5EA62A36BF&FORM=VRDGAR
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