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Buxton ND | Here what I posted on Saturday
"We're getting a disproportionate percentage of longs to shorts on the spec money side which may lead to a sharp drop on any small news event,,,,,AKA did we all ready see this on Thursday."
Now today.
For the week spec money added 19k (looks bullish) BUT almost 100% come from short covering NOT net new buying,Thursday actions pointed towards longs selling as does falling OI.
OI has been falling for 2.5 weeks (money leaving) even July (20k in the last 3 days) ((way to early for money to be leaving July)) these are not bullish signs....
We just made a lower high and a lower low with the 18 day MA looking very toppy and we've clearly broken the uptrend line in ZSN
The bull may be still alive but IMO is life support,a break below 14.50 ZSN it will need a De-fib unit.
This mornings open on high volumes points toward spec selling and a lower high of 14.82 could be printed.... IF we re-test 14.51 and cant hold it there someones gonna have to yell "CLEAR" | |
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Bean Bull still alive?
