123Tom's TA study group

[123tom]

2 good bounces in a row
will we get a 3rd one ?
I see your 4/8/13 are turning up. as price hits the track pattern targets, 19 today.but congestion overhead now from 19.00 thru 19.40, a major target waits at 19.30 area, for a 3 dollar rally. to complete 7 subwaves on my chart. its made 5 now. could get tired out right here. so we might sense the strength or weakness showing tomorrow to hold support (18.40 area) and bounce another dollar to the target 19.30 area or some variations of the track pattern. and there are targets above 19.30 area... 19.50/19.60/70 and 19.80 before it reaches 20. The 20.00-20.20 area is also a major target but its already made a decent bounce from the 16.25. I think we're pushing our bullish luck here to expect too much more climbing without a pullback. so the battle zone here at 18.50,may be looking at a drop to 17.50 or a surge to 19.50. we might get a better sense of it tomorrow.
In the support zone I hope to see the 17.50-18.00 area hold comfortably. and looking upward, I'm cautious to see resistance capping around 19.40-19.80 in this wave.Are there signals of exhaustion yet for this bounce? and the downward action of last week was pretty strong in my view. erasing the whole rally and making a lower LOW, this bounce could be a bearish capping zone at 19.00-20.00 area. I dont want to be greedy here. Might trim some trading shares in one more bounce.
I bought some at the 16.30 bottom. I could trim a little.
The selling was strong last week as it broke down the rally wave. why wouldnt the sellers attack it again at 19.00-20 area. I think they will.

decent bounce so far