Watching the APH.TO range from low of the oversold bounce to high of today. Today we saw our lower high set and bulls are now looking for a new support level above 15.76.
Today's low bounced right off the .5 retracement of the fib pull with swing low as the oversold bounce low, to the high of today. It will be interesting to see if that new support holds. I'll be remaining very patient as the next couple of days set a tightening range with new levels to play off of. The break of that tightening pattern will set momentum for the days to follow.
Today's bear volume was very notable. We know there is ETF balancing ongoing this week that must settle up Friday, so I am leaning towards seeing more selling pressure into tomorrow and Friday.
I find the most clarity on the daily chart.
Today's low bounced right off the .5 retracement of the fib pull with swing low as the oversold bounce low, to the high of today. It will be interesting to see if that new support holds. I'll be remaining very patient as the next couple of days set a tightening range with new levels to play off of. The break of that tightening pattern will set momentum for the days to follow.
Today's bear volume was very notable. We know there is ETF balancing ongoing this week that must settle up Friday, so I am leaning towards seeing more selling pressure into tomorrow and Friday.
I find the most clarity on the daily chart.