If you haven't completely followed along with the technical story line here, let's first set the stage:
A. Back around August of 2013, CLIR shifted from a CONSOLIDATION to forming an UPTREND CHANNEL.
B. Since the first step in forming an UPTREND CHANNEL is typically a FULL CHANNEL CORRECTION (and no one even knew there was a channel yet) no one was very excited by the August to November correction phase.
C. The FULL CHANNEL CORRECTION technically ended on 12/13 with a RETEST of the UPPER TREND LINE of the CORRECTION SUB-CHANNEL (In which CLIR crossed the entire channel width forming its base.)
D. Since there are ONLY 2 primary price moves in UPTREND CHANNELS (FULL CHANNEL CORRECTIONS & COMPLETE RUNS TO THE UPPER TREND LINE); it was then time for a HUGE UPWARD MOVE to that upper trend line for CLIR (to $12.49 on 12/24).
E. After some brief zigging and zagging...CLIR did a FULL CHANNEL CORRECTION to the lower trend line of it's channel on February 21st.
F. I posted back around the 27th (I believe) that it appeared that CLIR was setting up for what's called an ABC PATTERN that would shoot it higher to the $10.60 to $11.74 area (which would break it above the upper trend line of it's CORRECTION SUB-CHANNEL.
G. It would then have to pull back briefly to RETEST that trend line and CONFIRM the end of the CORRECTION, but THAT would then begin ANOTHER COMPLETE RUN TO THE UPPER TREND LINE (and that would likely be $14+)
RIGHT NOW...We are exactly ON the upper trend line of that correction sub_channel so we need to go a bit higher here, so we can then have room to pull back next week to do the retest...COMPRENDE?
Thanks Chumley. I was confused until you you "set the stage" then I got it. Sometimes it takes someone with your mediocre talents to help us common peoples understand. This technical analysis stuff is so, well technical.
Just wanted to drop a line to thank you for the technical packages you've been sending out. I am enjoying the education they provide while I try to learn TA. You really are providing a great community service. You really can't get this anyplace else.
It's interesting to me that people rely mostly on sentiment. Positive news etc. As I'm beginning to understand it, TA believes that all of the sentiment is already factored in to the price. Once a person is on board with the fundamentals and done their due diligence, then TA should then be used to make decisions about entry and exit. Price action then seems to move despite emotion. I don't know if I'm making sense, still trying to wrap my head around it.
A. Are you interpreting what I am saying above as BEARISH in some way Jason? (I can't imagine how...but you bring up the term "positive", as if I am not being POSITIVE enough.)
B. If you are asking why I do not discuss FUNDAMENTALS (and only discuss TECHNICALS); then you need to understand that I am a TECHNICAL ANALYST, so that is what I bring to the table. Others here can bring insights to you on the fundamentalls (along with news releases of course). ALL of that is part of due diligence, which all traders and investors need to do, of course. But, what O bring is the PURE TECHNICAL PERSPECTIVE, which I fear you otherwise will NOT GET ANYWHERE ELSE.