Up Thursday… Down Friday… and, now, UP again Monday!!! What’s a trader to do?!?!?!?
We noted the turn back the middle of December. Since then, I’ve watched it daily, and observed whether it was the real deal or not. Volume of any confirming nature, has never come into the market since then, and with the volatility, and the size of these moves, up and down… It’s not convincing anybody!
A rally kicks off with a turn in opinion, that results in buying with conviction, on volume. It follows through, with more buying, and brief ‘breathers’, where some get out, causing a pause, a brief pull-back, a small correction, or a consolidation. We’ve not seen anything like that yet.
So, it’s Monday morning. Prices have done well overnight overseas… what will it mean to our market here today?