BIG SSO trade at the low last minute bar price tells
me a short term DECISIVE move will occure Monday.
There WAS some attempts at BIG BUYS on Friday, they were snuffed pretty fast. Flash crash bids are now around 125ish, although earlier in the week they were here at 128.
In the OCT low for instance the 108.3 level was the LOW LOW
flash crash bid from days before, there were never lower ones, and on OCt 4 the market opened near there.
THAT is the kind of action that supports a real low.
I do not pretend to understand the big SSO AH trades,
because theoretically they can only be buys/sells not shorts (at least I think U and I can only buy/sell not short SSO).
We WILL find out Monday. IF the market goes negative
for very long or by a fair amount, I assume we will
not be seeing 128 again very soon.
The Friday daily "magic candle" says 131.50 is now a TOP
control line. FROM WHERE is it a control line will
matter, I do not pretend to know, but ANY logical
choice of origen says LOWER is in store.
The MONTHLY "magic candle" (same price, 131.50) IS
CLEARER as to what it means.
It is the UNDERSIDE tag of the "1'st fan" of 666 low
to 2011 HOY.
THE SECOND FAN is at... call it 121....
It is ALSO (131.50) a STRAIGHT LINE from 666 low to
underside of May low.. IF that were a control line,
the 1'st fan is at the OCT '11 low...