is one confused mess and has trouble deciding which direction it wants to go, from day to day. The bulls seem to want to buy each dip that happens. Maybe they are right in their bias but I believe it deserves and needs to test lower support areas to confirm or deny the 5.20, 5.10, 5.00, and 4.94 as valid support. It is beginning to lose its grip on Up momentum. It did finally trigger a sell signal for me today with the close below 5.36. I made the choice to take profits on shorts @ 5.34 and reversed to long on the expectations that it would once again close above my 5.36 sell signal trigger.
I don't want to be long, so now I have to decide, make a guess for how much bounce the bulls want to give it over night but they don't have to bounce it any. I have to respect the sell signal, so I have to punt out of the 5.34 long positions. I would like to believe there is a bounce back to previous support @ 5.40 or even test resistance @ 5.42 but the sell signal (even though it could prove a fake out) forces my respect. I have to go with expecting a 5 cent bounce to 5.38 to get short again. My anxiety meter kicks in if 5.45 gets tagged. I have to believe the 5.05-5.10 area is on the Menu waiting to be served.