To be upfront, I am not sure what to make of this market.
From my perspective, it still looks unstable, despite the
double bottom between the vertical down and the vertical up.
The internal supply demand indicators, the longer term
momentum oscillator and the buying and selling pressure
gauges leave me with the impression that the market could be
in the same topping pattern it started before the rude sell-off
at February's end. But, no table pounding from me.
First things first, and that suggests it would be nice to see
the market stabilize over the next week or two.
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