reaching for the sky…
The market reaches out and upwards to new highs with yet another gap.
The resulting strength in the T volume oscillator (now at its 2017 high) increases the size and range of the current T structure potentially drawing power from the very long cash-build up since the previous peaks earlier in the year. This development suggests that the August lows were important and that we may now be at the beginning of another advance to significantly higher prices.
The current large T structure projects initial upcoming highs in September in blue, and a series of extensions from the previous decline projecting into October in gray. It is also now possible that this structure could draw strength from the previous declines projecting further into the winter. However what comes next is dictated by the unfolding of price at the next peaks…
Be prepared for whatever comes next:
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.