Friday's trading gave us a positive crossing on the 7-day ADX, an initial short-term uptrend signal, but given the end-of-month manipulation, it may be a false positive.
Daily stochastics moving away from overbought and accumulation lower and money flow more negative are more indicative of a gradually more negative trend.
Weekly stochastics are moving up from oversold.
My GTEM spacial chart for this week shows low-volume activity in the trading environment all week with no significant support nor opposition hitting. Public support strengthens into a Wednesday peak, then dissipates, so it's likely we get our highest price Wednesday for the week, but it's a pretty neutral week overall.
Looking further ahead, though, this chart shows a high-volume extended tug-of-war for shares coming in the weeks ahead, starting more negatively on the 18th, but ending with a positive bias overall a couple of weeks later with a sustained flow of new small-money investors coming in, led by support from old longs initially, and new longs along the way for a test of recent highs. The positive bias is bolstered by the re-entrance of big money into the back door of the bank on the 17th for an extended stay. Mid-June to early July trading promises to be quite interesting, IMHO. There is a character of mystery and confusion in the opposition in the coming tug-of-war for shares (shorts may get burned in the end).
nilremerlin
