is influenced that much by other stocks, I'm not tuned into that element very well. I suppose the sector influence does have some impact, but mostly I'm just looking at the AVXL chart itself. Sometimes Ive looked at the XBI to see if that offers any clues. but mostly I am getting decent clues just by watching the AVXL price action. Today, in my view, we are seeing the ongoing price action battle continuing, unresolved. in this zone between 19.60-19.80/20.00 and 18.00-18.50 centered around 19 area. zig zagging in this zig zag wave 4 zone. As long as price stays under 20 area and doesnt climb successfully into 21/22 area, we have this unresolved zone between 18 and 20 , unresolved, but with a downward bias in my view. why downward? because this zig zag zone is an Elliott wave 4 pattern, which would suggest its waiting to get capped again at the 19.10-19.50 area and turn downwave into the Wave 5 downwave that ought to retest 18.00-17-16 area to finish the pattern. I cant predict this downwave will happen, but watching patterns play out, you get clues along the way. Todays clues were mixed. the opening plunge to 18.65 was bearish to fail the 19 support step and the 18.80 support step. To hold the 18.65 was ok as neutral. The strong bounce back up to test 19.80 was a bullish energy.the pullback all the way down to 18.88 was a bearish energy,in my view, and it finishes the day around 19. So I'll call the day unresolved and stuck in the middle. Theres no pattern change into bullish momentum unless /until the rally pushes into the 21/22 area and a pullback holds the 20 area. The capping in the 19.60 area holds a bearish energy in my view. The support steps around 18.50 remain critical to hold and for developing a bullish bias, really needs to be holding 19 now. So the whole price action battle here is still unresolved.and today did nothing to change that ,in my view.
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