Hi long...

You are welcome.. We want all want higher price...I want them too.  I personally don't care how we get there, as long as we do eventually.  I have a real problem with the market running to 5.25 with those quad bottoms in place. Pure and simple..its just to darn obvious.   In extended multi-wave pullbacks, there are occasion where they will not wash the lows.  But this is a daily chart.  It is really evident level on the charts. A move from 3.50 to 5.50 is a colossal move, and anybody that bought since June 15th is still long...or could be.  So if they are long, who is left to buy?  Maybe the whales have no interest...But they were around here in June, they haven't left.  So, if the small players are long, who is going to chase the market higher?  And more importantly, who is the whale - if he wants to play- going to buy from?  There has to be a pile of orders down below that level.  I might be totally blinded by whale watching, but IMHO, we need to wash that level to go higher. Pain is your friend,and somebody needs to get hurt.

As a side note...on the continuous charts, the failed level is 375.  This is expiration month, and Sept will be off the board quickly.  That might explain why "Z" is struggling to reach 3.87 on its chart, when it already accomplishing it job on the continuous, assuming price is still here when "U" expires.