RE:Gap Window Closed?Blaggers to that I can only say " thats splitting hairs."
Recently I had the pleasure to read Baumeisters article titeled " Bad is stronger that good".
Its a bit long here is the abbreviated version and I beleive that the last few days of CRE's trading is a direct result of just that. "Bad feeding on bad".
Roy F. Baumeister, a professor of social psychology at Florida State University, captured the idea in the title of a journal article he co-authored in 2001, "Bad Is Stronger Than Good," which appeared in The Review of General Psychology. In that article, he explained that those who are "more attuned to bad things would have been more likely to survive threats and, consequently, would have increased the probability of passing along their genes ... Survival requires urgent attention to possible bad outcomes but less urgent with regard to good ones."
This seems to cause man to become hyper-focused on the negative, which is driven by his innate desire to survive. Furthermore, when we consider that fear is the strongest emotion generated by our brain stem, we can develop a negativity loop that drives us to continually focus upon the negative by our strongest natural tendencies.
This applies in my view to short trem traders and not to investors which sepatares the style of investing.
Now back to charts: What a beatiful hammer today. Hammering out the bottom requires confirmation but what I see on the dailey 1 year and 6 month chart below is nothing more than sunshine and looking outside here in Vancouver B.C. just what we got.
The single blue parallel line on this chart is the trend that started last summer . The green and blue line shows the pitch fork and shows our way forward. We did fell out of this pitch fork yesterday and today but closed with an awesome hammer. Looking closer we stoped exactly at the bottom of the trend line and retraced also exactly to the 61.8 % line from our recent low $ 1.15 to high $ 1.98 in blue.
All good. My view.
Daily 1 year 6mont chart
https://schrts.co/IWbeWbat