It's amazing, certainly not a function of chart reading, but, interpreting the level II action as it relates to the chart... the price gaps up each morning and sells back... then recovers to a higher open (gap up)the next day... this is a conflict of interests.
Price rising on this type of action is rising on visual responses to charting at the end of the day which results in a morning gap up from people who don't have Level II... the price falls back under the selling pressure seen in real time.. You can see it on Level II, and what morning people are reacting to is yesterday's chart. Will there be enough charting bulls to turn the tide against the level II Bears?
That is the question?
The fate of this bounce lies in the gap ups. If I were a betting gorilla... I would take a position before the close and expect a gap tomorrow on momo Wednesday.
I have placed my order. The upward pressure is well placed at the day before the middle of the week. If we don't breakout upward into this week and next it will be amazing. We are set to have an amazing pop with all this selling pressure wasted.
The run may have enough pressure to take out $3.00
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