Trends Suggest Strength

Daily Continuation

Discussed last week about the recent trend of rallies at the first of the week (4 of the last 6) but now we have an opening coming off a lower weekly close which is a first in the last six weeks. It will be interesting to see how the market reacts, especially coming of the declines late last week. Those declines would suggest a weak opening but the early trade Sunday night, have some slight strength. Still waiting for some consolidation or declines to soften the extremely over bought condition.

Major Support:$5.416, $5.341, $5.17, $4.88, $4.61, $4.537,$4.375, $4.211, $4.156, $3.92, $3.821,
Minor Support: $5.62-$5.633, $4.728-$4.70, $4.66
Major Resistance:
$5.876, $6.24-$6.493

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