The Black Box

[dieselfuel]

Short term, it looks to pullback. On the daily, it nailed over 99 on two out of 4 days. That's a good sell signal. That's on the daily chart.

On the weekly, it's around 97. So, it still has room to move to the upside. The monthly is around 67, so plenty of room on the upside.

I guess AXA will move down short term. In a strong market, AXA will probably move up. In a weak market, it'll probably re-trace some of it's recent gains.

10.15 - 10.84 looks like the area of re-tracement. Though, it has a gap down at 7.58 that I don't like.

If the market would sell off big time, I could see that 7.58 gap getting filled. At least you know your downside risk.

When the re-tracement stops, look for it to put in another up leg of 9.53 points.

Lots of gaps above. I like that.

If the markets rally for awhile, I could see those upper gaps getting filled between 10.15 and around 20.

I'll be watching it. :~)