Today's chart looks different from Monday through Thursday of this week. I don't have a clue of the direction today. Anyone have a gut feel for today? Hoping for a sign after 2:00pm. If there is a significant move after 2:00pm, I might be tempted to purchase a few August 60 calls prior to the meeting next week.
Opray, On balance volume work shows 5 consecutive UP', which is usually a short term top area as far as timing. IOC also popped 60-62 area, now imo turning IOC into renewed bullish uptrend, likely for next 4 months and very possibly new highs. Normally after the 5 UPs and taking out 60+ area, I would expect a temporary pullback consolidation high 50's/60 or so maybe into early next week, but keep in mind Conf Call next Thursday or Fri and likely new updates. So I would expect pullback to be short and shallow. Afterwards, tomcrooze's 60-68 looks to be next objective. fwiw
Couldnt get by $61 area yesterday or this morning. Right now I would not bet short term either way. Could go back and try around $56 or could go to $64? Hard to say, BUT look out and IT BLUE SKIES!$$$$$$$$$$$$