I contine to model that LL is near a big bottom at these levels. It will not BK, at least not just yet IMO. It will bounce when the broader markets bounce. But until it can break the down sloping resistance line I would just sit and wait. While the action off the bottom has not been very motive looking, the first waves up can be anemic simply because the shares have to break the downward momentum. If this is going to break out then it should happen soon as part of blue 3 (not shown below) up. A nice gap up above resistance would start the shorts to run for cover. It could happen any time now. But if it cannot break out real soon now, expect more pain.
My primary model is for the breakout to happen soon but its not confirmed until that resistance line is broken.
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