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What worries me is, on the chart the corrections which normally have an upward slant appear to have a DOWNWARD slant.

This is a very weak pattern. Every time that the chart attempts to make a start of a new Bull market, it gets scuppered and moves lower. Could it be what is happening in the Suez ?. Although the trouble seems to have started before the recent fall, any upping of trouble there could destabilize all markets.

I think the best policy is to sit on one's hands and wait, possibly considering a top up at 32/33 (let's see how the pattern looks by then ). We must of course consider that with the first move of a Bull market, that it can retest the last low (27.77 low as an intra day low).Any penetration of that figure, or the closing low of 29p ?,would be disastrous.

It's well overdue for a rally at least. Surely at these levels shorters must be considering a controlled closing of at least some of their short positions.

Is it possible that there is something going on that is unknown to all but a chosen few ?. If so what could it possibly be ?.

We live in interesting times, who said making money was easy, especially in Boohoo!!!.GLA.

Ash, i thought he bought somewhere around 36p to 34p, nearer 36p possibly .I could be wrong, the memory banks can play up at times.

Happy is it not at this price that M.A. is likely to dive in ?.

All attempts to get a Bull market going again is being scuppered by sharp moves down to negate a Bull pattern.

People are nervous about the results that are coming (sometime!!!!).What's the odds that when the results appear and are terrible ,that the S.P. goes up on bear closing etc, and the next day the media will report that "the results were not as bad as feared ". OR the same results come out and the S.P. tanks and the media says (" the results were worse than expected ").

It's all about supply and demand, triggered by algos etc. We can see that shorters have beat up the S.P.. But the update looks as if it will coincide with a technical bounce which is where we are at or near right now anyway.

Does it look as if punters are waiting for the update where Bears are ready to close and Bulls are ready to top up ?.

How much doom and gloom associated with the update has already been factored in as regards the S.P. ?.

Give me your thoughts.

I see you have put up 32p as a support, agree with that ,only looking at the chart, the last rally (if you could call it that ) to me looked like some of the technically running corrections that used to dog this share. As i have said before that i don't consider myself to be an expert, but this pattern gives cause for concern.

A normal percentage play would seem to be around 32/33p,and the waves although worrying, they should if we track them to the end, turn out to be the bounce.

I do wish posters wouldn't say things like "Fridays are good for a rally ", or "Shorters are shorting again ",when the short tracker shows a miniscule rise. What's this about the canal boats being attacked by Houtou rebels. The U.S. blasted 3 out of 4 rebel boats out of the sea, and the other one high-tailed it out of there pronto. Houtou rebels may be fired up with zeal, but i reckon they ain't THAT stupid, now that they saw what happened.

Yes other governments may step up and do something, but ruining the economy of the whole world isn't the way to make or even keep friends!!!.

Let's see how it plays out from here. The M.A. etc factor gives us hope for a softer landing, and in a few weeks we may well look back on it all as just being a technical shake-out. Remember Houtou rebels if i remember it, started attacking ships in this current set of skirmishes, well before Boo et all started their fall!!. Shares fall, media looks for reasons for it to fall, if shares had boomed, all this would have been overlooked and reasons for it to go up would have been looked for. Confirmation bias anyone ?.

The trick is to see through all the fog, noise, chatter. It's a technical correction. That's the percentage opinion. There could of course be something going on in the background ,something unknown, that very few people have knowledge of that could compromise everything . That's the risk we all take . That's why it's called a percentage play. There are no guarantees in life anywhere, that's why i don't do short term punting. G.L.A.

Parsnip, no i wasn't/didn't say a rally was near. Looks as if there's one more down move (to possibly 33 .00p or 32.00p ) .

Sit and wait methinks.

46p ?.Yes posters can say 46p,but just where did they get this figure from ?. Too much sky blue thinking. Nothing technical.

I said a correction was coming. Do people think that shares go up in a straight line without any pauses ?.Unbelievable.

Jeremy, with the greatest respect to you, you mentioned the bullish flag last week. Being always wanting to learn from others, could you give me your take on what went wrong. Did the Flag get negated, and if so how ? .I'm pre-supposing that you were suggesting it was a bullish sign and the market would go to further highs. Maybe you were looking at the bigger picture of the rise from 27.77 ?. I don't all things TA, only certain things ( Head and Shoulders can work, but then don't ,so i don't give it a lot of credence).

So if you can give me your current take on things, i as always won't critisise you in any way. I just need to understand things more. As you say oversold, where to next ?.

It's all about playing the percentages Hexam . The percentage play was that near 40p it would top out and start correcting the rise from 27.77p.Next is to work out how far the pullback is going to be , then make decisions based on it, and then play the percentage play. Nothing is ever guaranteed, but that is how all decisions are made in life and every where else for that matter.

Voltaire, reasons are given (especially in the media) AFTER a price move up or down, never BEFORE.

if Boo had suddenly shot up and not down, the media folk et al, would be looking for different reason to explain it all away.

I'd put price action above all other things first, then look at everything else.

I am very surprised at some of the posts on here at the moment. Posters are saying that they can't explain away the sudden fall of late. Well it's purely technical. Day/short-term traders have sold as the price has reached there target.

Chart-wise as i have said in my posts, have signaled the top (circa).All moves have been accounted for and the obvious actions algo-wise etc have taken over.

I have some figures of 33p as a support, which looks a bit low, but at this point we will have to read the moves down as they happen. That way we can only then project a likely next bottom to top up on.

Once again i say that i'm very surprised that some posters appear not to know what is going on with the S.P. Please do not take this as an insult, for as i say, i'm surprised, therefore i had a high opinion of you all, especially of those posters doing the Fundamentals. It's just that i see the charts as a back-up, even for those who base there decisions on fundamentals.

The chart in my opinion remains Bullish, and i interpret the fall as a normal technical correction in it's onward path upwards. So many investors are so impatient as to think that this share is going to go to £1 in a blink of an eye (didn't one poster say early in December that "£1 before Christmas").He was obviously looking at when in rebounded from 152 to 415 in the pandemic days. Perhaps he should look up what a "B " wave is!!!,perhaps he should do some research.

There is no substitute for hard work and doing your own research. As i said to one guy who observed that i was "always reading". I told him that if you want to learn to swim, you have to at some point immerse yourself in water. Like-wise if you want to be good at anything, you have to immerse yourself in it, i.e. study very hard to the point of obsession.

GLA ,and all you bulls out there keep the faith.

As i posted some days ago ,followed by a false start, now well into a correction. Waves are easily readable, which for this share is a welcome change.

And by this statement of yours, you really mean ?.

Looking at the Chart, i interpret it as, we have seen the top for now, and are now correcting the rise from 27.77.There may be new highs JUST above the last top, but basically, a correction is coming.

How far the pullback goes, so that buyers can get in and shorters can have another go at closing is open to debate. That's to be worked out later. Maybe it will go down and then bounce on the update in a few weeks time. Sounds a logical scenario ?.GLA.

Jeremy, hi. Would have thought that we had hit the top (for the moment) by now. How much more traction is still in it, before it takes a break and pauses for a pullback ?.

I must be reading the waves wrong. Still, it's notoriously hard to read it right so early in a pattern. Best to sit back and observe and let it become clearer possibly.

My post of 13th of September, in my reply to Oakhurst i asked him about his opinion about Walgreen, of course no reply from him. Perhaps i'd better luck on a forum ?.

Superdry has a way to go still, reckon i have read it ok, though the level it will reach is alarming, unless it can do a sideways move, like Boo did at 30p ( pity it dipped below 30p ),so holders of Superdry need to top up if they are Bullish when it reaches it's bottom.

Last of the corrective moves keeps getting scuppered. Shorters well and truely in trouble. To think that this share used to hardly manage a rally when it was supposed to. Now it can hardly get a corrective down move going. When it does happen, let's hope we can find the top up price.

Think i mentioned to someone about Walgreens in the past, looks as if i may have missed the bottom.

Hi Ableton. i only do all this as a hobby, i made money in the property boom as i lived in London. Though i bought at the bottom in early '75 , i then lost money (odd that!!!!. Perhaps i wasn't in the club!!!!??!!.After that i left it alone.

I only do long term holding. But with Boo i look at the smaller moves so that i practice reading it all correctly. I learn from my mistakes from how i initially predicted things. Basically i reckon, If you can predict the Boo movements correctly, every other chart in the Universe should be easy!!!!!.

I have found since i took up share study again some 6 years ago, no particular week or month has favoured one way or another, but i really haven't looked. But to remind everyone of the old sayings in the Market years ago, for instance "Sell in May and go away, come on back St. Leger day". That one was the most popular.

From the Investors Chronicle in 1973,it stated that if the Main index finished Higher at the end of January than compared to January the first, then the index would finish on the plus side at the end of the Year. It worked from 1946 to 1972,but in '73 with the market collapse it failed to work. I haven't checked it since.The Coppock indicator was one that they favoured, but after it seemed to give buys but then would give a sell not long after, then a buy again.I may not be doing it justice as it was a long time ago now.Best to check it yourself methinks.

There are such theories of how long a price movement lasts, such as Fibonnaci moves etc,and i have noticed a few things time wise, but i have yet to follow it all up, as at 74,although retired, energy wise it's getting more difficult to keep on ploughing on.

I see that the dreaded "C " wave seems to be upon us. I haven't yet done a calculation as to how far the pullback is going to be (Assuming that the last wave 5 has actually finished }.I reckon as i said in my earlier post, that investors will be waiting to top up at the next support level. I will resume my work on it all after the New Year, and post again then.

I do Elliott, Broadly speaking ,i am not an expert. But it's easy to spot top formations where there is sideways movements consisting of the ABC correction. When you have worked out the first two waves AB, then you sit back and wait for the C move .Of course there are attempts to short a share down from the top, which are scuppered, making the share go sideways for longer, so best not to try and short too early, or not at all.

With your own research of algos/ equations mixed with Elliott you can come up with possible long term supports/bottoms. If early on in a down move it drops say 25%,and has gone straight through a support and the waves don't even add up, you know that the next support comes into play. Say for instance 400p was an early support numerically, but not wave wise, you can sit and relax when your next support is calculated at say 200p.you no need to look at it all the time as you have loads of time.

When all your calcs line up in row, then is is the time to consider whether to invest. Your own research mixed in with known TA should make your investing a lot safer, giving you the ability to see through all the "noise" and "chatter".

Ableton, i am using the i min chart to see if all the waves,(5 waves ) have finished, so i know where i am..(hopefully!!).