Crazy Wednesday. Buy the rumor, sell the news? Maybe so!
I guess Wall Street was hoping on a 1/2-% interest rate drop from the Feds, but the Fed chose to drop a 1/4 point instead, and the 1/4 point was already baked in so a lot of profit taking took place.
Over two weeks have passed since MUX spiked higher, leaving a large gap with a bearish tail from the open of $12.60 to a low of $12.38 (22-cent tail to be exact), on 9/02/25, coiling sideways for a couple of weeks, looking for direction and I see the $13.17 (lower black line pivot point) was tested today.
So, ...we've tested both the $13.88 (bumping up against it for 10-days) and now, ...the $13.17 low before shooting up higher on the Fed news, ...breaking above the $14.00 level momentarily, ...as it left a large bearish tail to the upside.
We broke even today, 0.00 gain. MUX is still in the coiling stage, until it moves and closes above or below one of the black lines for at least a few consecutive days. The 20-day EMA is at $12.82.
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