I'm using nothing more than the candlesticks from the previous couple of days with the volume associated with the trading. Buyers appear to have dried. We will go back down and bounce off of the 50DMA like we did in early July. Looks like we will meet it in high .006's or even .007.
A/D line actually looks great for the PPS action as of late.
And before everyone freaks out, the point I'm trying to make is in the short-term we are headed down. The uptrend could very well continue, esp. pending some good EPA news.
You can't want smoke blown up the rear end all the time, truth helps too when it comes to trading pennies. Gotta try and be logical about these things, even if long term you are extremely bullish. In our run to .008, hasn't there been a few off days, profit taking days, etc?Short it down before riding back up? Have to respect ups and downs and make money going both ways.
Charts are tough with pennies, but this one suggests a short term selloff.
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