Pop!!! Like a champagne pop, price shot up with a lot of air behind it. The bull is really going for it. All these messy businesses with the bear were a complete waste of time. The bull has a goal and it is going to get to 20,000 Dow Jones Industrials Average as soon as possible. Mankind demands it. No one wants a dull market anymore. To show progress, price must keep going up. And so it goes…
Price is now above the 5 & 15 MAs; next target are the 79 & 89 MAs. It is important that price penetrates the 79 & 89 resistance; failure to do so may trigger another downtrend.
My port, for the moment, is still soaking wet from all the water pouring in. It is definitely not easy to move around with all that water-weight. But no worry, the water will eventually evaporate and wings may sprout from some of these companies and carry my port to the higher ground.
$DMRC bounced today and that created a potential bottom from recent downdraft.
While price gave back some gain by closing bell, it was still an up day to form a bottom.
Even though $AMRN was down slightly today, it was still a higher-high and a higher-low green bar.
Price looks good for further rally.
$AKAO gave back some gain from yesterday.
There is still a strong uptrend momentum even with today red bar.
$ONCY fell but got back up to close.
There is a potential for a bounce from here due to momentum indicators turning up.
$BIOC continued to bounce off from Friday turn-around.
The potential bottom we saw here are the Fib 61.8% retracement. So, price is looking good for bounce-back rally. But price needs to break out of the 79 & 89 resistance to the upside.
$ARTH was pretty much neutral for the day.
Waiting for human trial announcement here.
Today is pretty much a neutral day for my port which is much better than last week.
Main port: DMRC, AMRN, AKAO, ONCY, BIOC, Trading port: ARTH
My 2 cents
From my camera
(Click on photo for enlarged version)
Categories: Daily trading Journal