I said at the beginning of the month that the long term indicators were setting up to favor a long term sentiment shift and that this had not been this way since the run up to 3.80. After the first of this next month, if the price holds up here (mid- high .30's) the sentiment shift should be confirmed by other indicators, i.e.; Bollinger Bands & others, starting to head north.
There are, in my weak mind, a couple of scenarios that would favor a sustained run up vs a relatively small flash in the pan time move. The first would be a series of gap ups, each followed by a period of consolidation. The second would be an orderly move up characterized by relatively small daily moves, and the third would be a combination of the two.
There are market psychology reasons why these types of moves sustain themselves versus a relatively short period of large moves. I won't go into those but they are actually fairly intuitive.
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