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56 Vl~ 43 vr- 43 D=B306 0=4135 H=414B L=4115 C=4131 Figure 18 0306. The market moves up slightly, putting prices in a no mans Ian; Is this a Fibonacci correction of the previous Fibonacci correction? Is this market gettin, ready to move sideways? Those two prior gaps, one in each direction bother me. Ther( is no signal from the weekly oscillator yet. Im unable to do anything but sit tight and wait.
?4 X])= 74 D=0387 0=4128 H=4185 L=4118 C=4183 Figure 19 0307. The market shoots up! I wouid like to enter it, but am stiii bothered by those two gaps. It looks to me like a trading range may develop. The daily oscillator is one tick from being overbought. Technically, I could place a buy stop just above todays high, but because of the two gaps, and the large magnitude day today, I decide to continue to wait. The daily oscillator has been overbought every time it has been at this point, so I really expect some sort of congestion or correction. As I draw a line across the two highs, the sideways nature of this market becomes more apparent. Its best to wait.
mK= 84 XD= 84 N=4228 L=41?3 C=4178 Figure 20 0308. The market moves up, but I am suspicious of that close. The daily oscillator is in the overbought area. Prices had bounced off that previous high made in February. Im more convinced than ever that a congestion of some sort is taking place.
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