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Here We Sit On an Island

Daily Continuous

Daily Continuous

Major Support: $3.444-$3.431, $3.313, $3.108, $3.045

Minor Support: $3.261, $3.152, $3.13, $2.938, $2.783, $2.704, $2.695, $2.61

Major Resistance: $3.568-$3.576, $3.661

Once again I am concerned about no retracement this week and looking at the chart, we just love sitting on our new island.  Folks, this island formation will not last forever and perhaps it is running on support from the upcoming cold forecasts but there will be some tests of support coming, though with the weather forecasts, perhaps not today. I want to update you today regarding next week— due to some family surgery, I may be sporadic in the Daily’s for the next two weeks.  I find myself in the position of primary care for my lovely wife as she comes out of surgery.  My over-all theory is that the winter run is not over but we need to consolidate and retrace from this week’s gains.

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