In the backlink I was looking for an inclining double bottom that didn't happen. Thus we know it was in fact a motive move.
Because of this, I now count the recent flash crash as 3 of 5 and then the gap fill is 4 of 5. If this goes above green 4, this model is busted too. But one thing I like about this is termination into the end of the month. I have this as a potential bottoming point for other commodity plays.
Amazingly, the market cap of PBR is still 32bn even after this kind of ass kicking. I'm just wondering when the DJIA, S+P500 and $COMPX play catch down to the massive deflation that has hit commodities and companies associated with them.
Wednesday, August 26, 2015
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