Over the last 10 trading days the market has traded in a $.35 range and have little or no interesting in breaking out or down. Where is the love (especially considering the time of the month). What are we going to do here? Discussed in the late Weekly diatribe that the market seems to be “basing” — built into that term is the concept that from this period prices rally. The other term to use is consolidation for this trade — not insinuating the upcoming move is up or down. I believe that price are consolidating but could be basing if the shorts don’t develop the power to extend.
Major Support: $2.533, $2.422, $2.238 Minor Support: Major Resistance$2.67, $3.536, 3.595, $3.63, $3.789, $4.128, $4.22-$4.39, $4.75-$4.825, $4.948
