On the monthly we had an open-test-drive, which drove to the MDIB 1.3114 then failed. Confluence of failed ypoc 1.3117, failed RE & no drive outside the WIBH 1.3117, keeps my bias bearish. Mpoc is at 1.3048 & imo responsive selling vol came in coming down off these highs, as price was above the current month vah, I assume its selling volume as prices have dropped, from the Mperspective, I wouldn’t expect to see Responsive buying until we get below value, or possibly the test of the MIBH, or where the high vol that created the drive higher started, all those reference points are in confluence.
On the weekly we had open-test-drive, and a pretty aggressive drive out of the WIBl. That keeps my bias bearish, however we just came off the previous weeks vah, where I would expect responsive buyers & it is also the yearly open where we need to retest the recent break/spike above. One of the most important references to me are opens. The ability above to stay above or below, or a cross above or below is a drastic change in sentiment. This brief bounce off the yopen & previous wvah imo isn't very aggressive (its looking weak) as there's not much otf up suggesting imo LTF participants aren't participating. In fact the daily profiles suggests were otf down (bearish imo). Other than this brief bounce, in relation to the longer term profiles I don’t see where LTF responsive buyers would step in anywhere other than the longer term references points below the yopen. But then again I didn’t think we would come back to test the yopen, either. But with my longer term bearish bias, I've been selling into the rallies as of late.
On the weekly we had open-test-drive, and a pretty aggressive drive out of the WIBl. That keeps my bias bearish, however we just came off the previous weeks vah, where I would expect responsive buyers & it is also the yearly open where we need to retest the recent break/spike above. One of the most important references to me are opens. The ability above to stay above or below, or a cross above or below is a drastic change in sentiment. This brief bounce off the yopen & previous wvah imo isn't very aggressive (its looking weak) as there's not much otf up suggesting imo LTF participants aren't participating. In fact the daily profiles suggests were otf down (bearish imo). Other than this brief bounce, in relation to the longer term profiles I don’t see where LTF responsive buyers would step in anywhere other than the longer term references points below the yopen. But then again I didn’t think we would come back to test the yopen, either. But with my longer term bearish bias, I've been selling into the rallies as of late.
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Markets are not efficient, rather they are effective - Jones
...kidding...