Volatility game on big time and prices are selling rallies — does define the end of the bull run since the fall of 2020– no. Does it show the conclusion of the run in 2022 — not sure. Have we finished the expiration process and 15 month trend — not even close– three trading days left and need I remind anyone of the February expiration that sent prices to the first test over $7.00 during the process. Technical damage has occurred this week to the run but prices closed yesterday in that key area between the early April low and early May low (see chart below).
Will get into more assessment of the break down on this chart over the weekend if it occurs.