P314159d, (Hope this isn't too fragmented!)
We've come close and even gone through a couple of times in the past but only briefly.
It's also on been Huge volume and rumor days. Sorta of what I would call frenzy time situations.
I agree with your using of the word "solid" in a previous post!
The volume has picked up, However it appears to be a "Solid" pick up rather than a "Frenzied" pick up!
This pattern appears different in the past two days. Volume has increased nicely but it's not the usual 15 to 20 million "Frenzy" stuff, we've seen in the past! There also appears to have been some nice accumulation happening prior to this increase.
I'm hopeful that this may be the "conclusion" of the reversal of the
long term down trend and we will begin to see the beginning of a "Stage 2" up trend. (With that we will need to do a move up WITH a retest at least one more time. However..... The retest "Should" result in "ONLY" that,(A Retest) and then a continuation of the up trend!
Problem here(At least to me) is when studying this stuff on charts? Charts(weekly charts especially) is they give the impression that the "Time Span is SHORT" One needs to keep in mind! It's a "WEEKLY" chart! So what appears as a few moments in time is a very quick move!
I think Tim Lukes mention of 8 weeks in this case is REASONABLE ro get a Confirmation on all of this! I'd personally like it to be 8 minutes!!!(But I do have some moments of clarity and try to be realistic!)
If the particular signals we've seen(You,Me D. Craig, Rain, Tim, etc..) in the past few days and weeks are "Valid". I am beginning to believe "The Worst" may be over! That does not mean we are going to run up without some pullbacks! I do believe though we will see a reversal in the pattern and direction of PAIR and the telecom industry as a whole, with progressive, quality companies.
Anyway "TIME" will tell here I believe as things begin to unfold. I'm also of the opinion that this all coincides with the "Desperate Need" for breadth in the overall markets, for the overall up trend there to continue!
One last observation: Also the small and mid cap stocks have a bullish cycle(according to the information I have) of about every 5 years. It has been about 7 years since they have had this pattern. It appears that this trend is overdue at this time! So...... It might be that the pieces are currently in place for things to shift in our favor!
These are just some observations after two years of watching, On a Daily basis, and trying to assess PAIR and the overall markets!
In other words?????
This is just my opinion! I could be wrong!
Yout buddy,
Jay
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