Today we did move up with some strength and crossed my upper trend line. We did not, however, breach the $226.97 price point. With the action we saw today I am inclined to think we have bottomed. Nonetheless, we do not have confirmation so until we do I keep my primary.
If we have bottomed, then I expect us to move higher tomorrow and most likely make 2 more highs into the 0.786-1.0 area. Then start to head down for another small retrace before take-off. If that is the case I may start layering into some calls and most likely start buying some actual shares.
Until then, I await for a better entry with a much better risk/reward in my favor.
Bonam Fortunam,
--Tyler