$OBSV With the close <5.45 in officially bearish through Wednes. Daily RSI dropped <50 for the first time since the run started & we closed below the 20dMA which has held since the run started. Next pivot point is $5 IMO, and then 4.50. I think we hold here & maybe see some bullish consolidation late Thurs, early Fri (markets close 1PM ET on Fri). Would love to end the week >$5 with RSI >50. This has been an incredible run and sell-off going into data doesn't mean market reaction will be negative. Hopefully most of those invested to sell the news are shaken out this week as MM's kill SL & trigger fear. Investor confidence has been the highlight of this low-vol run, some retracement before data may be exactly what the chart needs to explode. Finally, theyre being very intentional with their PR's. It's a very weird circumstance, but they chose 2 Monday PM PR's. Doesn't mean the market will react well, but certainly signals that they believe the data is positive enough for Prime Time.
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