Looking again now after a week has passed
we're getting a slow rally,climb the steps into resistance ,whuch is here at 11 and all steps upward toward 12 and 13, its all resistance in this area ,in my view. Tomorrow will end the week. I wonder if it pops to the next target area around 11.50,will the rally end there and start a pullback. or would it grind higher next week.
I believe the market will be crashed in the coming month. but its impossible to predict exactly when. . I'm watching the S+P chart for the same signals. The S+P danger zone looks like 3900-4000 area to me. That could get triggered as early as next week. maybe it will grind higher over two weeks and then get triggered.
These are just things I'm watching for.
Avxl has bounced from the 9 bottom area ok, but if the market crashes.... where would the crash bottom be to buy AVXL.? would we be looking at 3 dollars? 2 dollars? 4 dollars? hard to guess. I just want to make sure I have some good cash on the sidelines waiting .
I dont like the idea of selling any shares soon here at 12 dollars, I'd rather have more time, and see it climb back, with news , to target 16 again. but how long will that take. when is the next great news to trigger a rally? Will it come first before the crash happens? I'm anticipating a market crash inside the next month. and wanting to sell a few shares to raise more cash. The only consolation for suffering through a market crash, is to have dry powder ready to buy more AVXL at 3 dollars, if it happens.
