Friday, December 14, 2012 11:54:37 AM
JBII is in week 8 of a 12 week cycle post MFI (smart money, whales, etc.) "flush" as depicted by the white smudges below the 20 line (MFI 12). If one looks to pattern behavior based on last 2 "flushes," MFI 3 cycle takes 2 to 4 oscillations to pull the MFI 12 through the 50 line in sync with Retail Money (CMF) and Money Momentum (ChiOSC).
Smart Money has yet to participate in pushing the stock back up (MFI 3 still on the floor). As can be clearly seen, Retail (CMF) is doing all the heavy lifting (CMF 3 above signal line) with bid support by the "whales" but not enough (CMF 3 below desired .5 peak) to trigger momentum (ChiOsc).
I agree with "up to" mid-Jan but would also throw in .60 as a possible low point if .64 doesn't hold. This next (overdue) MFI 3 cycle-up (Smart Money in) should confirm/deny upward conviction short of the 12 week; but it'll need to be pretty hefty to pull the MFI 50 through the signal line, which is desired to confirm reversal IMHO.
Smart Money has yet to participate in pushing the stock back up (MFI 3 still on the floor). As can be clearly seen, Retail (CMF) is doing all the heavy lifting (CMF 3 above signal line) with bid support by the "whales" but not enough (CMF 3 below desired .5 peak) to trigger momentum (ChiOsc).
I agree with "up to" mid-Jan but would also throw in .60 as a possible low point if .64 doesn't hold. This next (overdue) MFI 3 cycle-up (Smart Money in) should confirm/deny upward conviction short of the 12 week; but it'll need to be pretty hefty to pull the MFI 50 through the signal line, which is desired to confirm reversal IMHO.
