I believe we are in a descending channel and still need to test the lower trendline in said channel. Right now we are stuck in no mans land but I do believe the longer we put off a retest of lower trend line the worse off we will be. Let us get it over with and then we can bounce and move up with volume and out of channel. As I stated in a previous chart breaking the long term red trend line was a BIG deal and has confirmed the bearish sentiment in teh market. As much as I hate to say it...we NEED capitulation (the action of ceasing to resist an opponent or demand. "she gave a sigh of capitulation" synonyms: surrender, submission, yielding, giving in, succumbing, acquiescence, laying down of arms;) in order for this market to truly recover. I am not a pro and I certainly would not want anyone to make a financial choice because of me everything posted above is my opinion only and I am submitting it here with the hope of inciting some discussion.
GL out there boys,
Red Boar
GL out there boys,
Red Boar