RE: RE: RE: Land AdditionsMarkets are in "risk off" mode right now and so all the money is moving from these small companies to the safety of cash, big premieres or fixed income. As well, in failing to break through its 50-day moving average last week there is now a descending trendline in effect that is likely going to put the sp into a chart pattern called a Continuation Triangle. If that happens, then the next high may top out at 1.15, with another bounce down to 1.00 again and then it might break out from there or it could do a couple more successively smaller bounces before it likely returns to an overall uptrend. A press release or sudden change in economic sentiment would mess up the pattern it seems to be working to. If you want to see an example of an even bigger Continuation Triangle at play, go check out GUY which is almost a chartist/TA dream when it comes to a triangle pattern over a long period of time. It has a rock-solid bounce off 8.00 based on the line-chart, although intra-day lows at the bottom see it below that.
Summer doldrums are in effect so even good news might not be enough to shake this out of its trend for a while.
eebler