Failed to break out at 90, (see this chart stockcharts.com[L,A]DBOLNYMY[DD][PC25!C50!C100!C200!F][VC60][IUC20!LB14!LF!LG!UA12,26,9!LJ[$SPX]] ) failed at it's 25 dayline, failed to hold at it's 50 dayline, failed at it's 100 day line, failed to hold the most recent low at 67, failed to hold at it's lower channel line (connect 46, + - 52 and 67 with a straight line), then failed at it's 200 dayline all with days! I would think 60 would be nice area to find support if that fails then 52. On positive note. Notice how high it is above it's spring low while the NAZ has made it all the way back down? Long term holders should be happy as long as it doesn't make it back to the lows. If that where to happen, I would say, barring some unforeseen news, that GMST would be broken and in need of a long base building period.
Greg |
