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The current pullback in the SP has entered the endgame.

Can't say if it'll keep on dropping for say the next 2 days or the next 12 days etc., but it's entered an oversold condition (not apparent on standard RSi viewing) and it WILL bounce soon. And again can't yet say if that bounce upwards will last for only 2 days or 12 days. Time will tell as they say.

Will post when all is clearer, but by that time everyone will have seen further changes in the SP anyway. My only concern is: will the SP break through into the 80's before that turnaround occurs?

The overall performance of SLP SINCE last August is bullish. It's still a case of the significant lows each being subsequently higher, and significant highs subsequently being higher - (higher highs and higher lows). It's not a clean bullish performance but the pullback downtrends like that currently, is perhaps leading some to think the worst of SLP.

IT IS RECOVERING. Painstakingly slowly, but it is underway. Only a crash through the 80's into the 70's would destroy that view of mine. So the first question in this pullback is; 80's - to be or not to be?

THS - Too much confidence in the SP bubble sentiment, as some holders in THS think they are immune to any pullback from international market/events in play, by comparing it to SLP.

2 days so far THS has dropped, with more to come - but I doubt the THS bubble-sentiment holders have noticed yet. It's set to continue downwards IMO.
As of yet as it's early, can't say by how much, but the Ultra-Short-term trend in THS has turned bearish already. Strike One!

Then again, so has SLP's and worse so has the next leg up - the Short term trend too has just turned bearish, not to mention the predominant 200 trend is bearish on all counts.

And yet - yet! I believe the floor in this current pullback is fast approaching to a resolution.

Intraday damage report:

Lunchtime update:

Friday close indicated the SP was leaning towards bearish sentiment and progress so far for Monday, has cemented the dominance of bearish sentiment against the SP.

Will now show the 3 full supports as a damage report, as 97 was only the first support level. That 94's visit this morning meant the SP had fallen through TWO supports.

But first the re-commenced down-trending 200 did drop further this morning and is now in the 96's Yikes!
- and that doesn't help because I assumed there was a chance the SP would float around 98/97 but that deep retrace to the 94's this morning was seriously bad news to see.

(GM has now ceased vehicle production as well as Toyota. Today diesel vehicle owners have been warned in the media to expect diesel shortages in supplies).

The fuller 3 supports for Monday only are (put your day-trader's hat on :)

97
96
92

You can see that price clocking up 94 for a while was most disturbing in that as mentioned, that meant it had the force to smash through 2 intraday supports.

I'm pulling my horns in a bit from looking for hints of 100 to 103 and will quite happily settle for a 99 close without complaint and regroup for tomorrow.

However, it's wrong of me to draw conclusions before the day is done.

Trends are still bullish, but they are lagging indicators so little comfort there. Price is now below the 200, but it did open the day above the 200. So only after price opens and closes below the 200 will grip on the battle start slipping away.

I'm not convinced about re-visiting the 80's. Still a reasonable bullish shape to overall trending since August of last year.

Well, Friday's close favours the bears for Monday. No question about it
- but they did it on the thinnest volume.

And also pivot points going into Monday, are the tightest yet when compared to all last week.
So all is possible.

The 200 day average at 97's, barring a miracle, will almost certainly drop down to the 96's on Monday. That's terrible and a bad omen. The levelling off was a one day wonder, and is defo descending again.

- But on the other hand it puts a bigger space between the falling SP and the powerful 200 day trend.

All other significant trends remain bullish.

Because of that, I don't believe this current pullback will fall out of the 90's. Monday's new pivot points support that opinion. All supports are in the 90's. Period. Full stop.

That was not the case going into Friday as the third support was in the 80's.
(I didn't reveal it as a 'possibility' as I trusted my current data more than the way-out third level resistances and third level supports).

Can't reiterate how pleasing that is, that although 80's as a possibility showed up at the extremes every day, all last week - But are not showing for this coming Monday even with the SP at its lowest.

(Volume by the way, was the lowest of all last week on Friday, and the only day in March to be seriously below the longer-term average volumes).

These are the notable intraday turning points for Monday that I'm looking out for and/or not looking out for, as the case may be :)

The sit-it-out on subs bench is 99p
Close on that and a rematch is called for on Tuesday as nothing proven.

And get this - just one single penny - repeat just one single 1p above the day's pivot point of 99, is all that is called for, by closing on as a minimum 100p to turn things in favour of the bulls.

On the other hand all the bears have to do is close on 97 to hand further power to the bears for Tuesday.

It's going to be a tight game on Monday. Easy to lose it as not much volatility is expected as both sides are more evenly matched.
This is the best chance of terminating the pullback.

2nd intraday resistance (IMO) lies at 103. So I'd prefer a close between 100 and 103.

Should the pullback continue I'm more than optimistic, this is not another visit to the mid 80's. When this terminates IMO it will be with a low in the 90's and no further.

Summary notes for Monday close only:

103 = Strongly Bullish
100 = Lightly Bullish

99 = Neutral

. ( 98 = Lightly Bearish)
97 = BEARISH

Concludes > > >

. . . But if you did want to provide evidence that "some" chart analysis doesn't always work on small-cap stocks, then you have one in action before your eyes right now - with THS!

I've top sliced THS (the third time occurred today, this morning) in recent weeks as something crazy appears to be happening. I'm concerned about THS's SP entering bubble territory so have sold 4/5th's of my holding in THS for a very nice profit, whilst retaining a v small holding if my concerns prove ill-founded.

What I mean is, a type of Relative Strength is screaming its head off in THS that the SP is overbought and due a correction - but nothing is happening for over a month, price just keeps on advancing relentlessly.
I might be mistaken, but I think the overbought oscillators are right, and only bubble-territory sentiment is refusing to let the SP behave as the RSi's indicate that it might well retrace
- As I'm damaged goods from ignoring my trends in SLP back in May '21, I'm taking profits in THS but not all, so I'm ready to pick up cheaply if there should be a retrace. I'm not a conviction holder in THS, and should really cash out 100% as it's a left-over trade from buying in July of last year in a historic seasonal experiment. It's worked out profitably and I'm sure the SP won't disappoint, but my opinion is THS's SP is overdue a (temporary) dunking.
I'm happy enough and unconcerned if events prove I've sold out too early.

I - Just - Don't - Trust - THS's - SP - At - The - Moment :)

Also I'm beginning to trust a commodities oscillator that forecast the current pullback in SLP but I didn't feel confident in admitting so publicly as it's supposed to be a commodities-specific indicator.

However, it's working like a Swiss clock on SLP - yet is producing nothing so far on THS!
Make of that what you will. It's like the RSi - but on added steroids - so I've nicknamed it the "Over-Active Thyroid Indicator" :)

I've ceased ignoring it - and will be posting it's endless volatile changes for SLP as checking its every move on SLP has shown it to be uncannily prescient.

Was the same with THS too, until it 'failed' from February to currently. Could be it still is accurate and I'm tired of waiting for THS to respond due to a building SP 'Bubble'.

In summary:
Death Cross/Golden Cross is IMO to broad a sword (currently) for a minnow like SLP, so treat it as a sweeping generality and not as a precision tool.

Chart analysis on any size stock works for me - predominately with trends.
No complaints here.
That's not to say I disagree with your view, rather that it depends on the choice of tools you use, rather than write off small-cap stocks as unsuitable candidates for chart analysis.

However, greater minds than mine have opined similar to you - chart analysis doesn't work so well on small caps.

I disagree, but that's just my opinion based on my own experiences.

(Apologies in advance for the long post. Must cease posting too much)
-----------------

Hi Nimrod,

I'd like to comment on the (upper case) points you raise:

" You'd have to wonder if chart analysis works all that well for small cap companies. I've always found them interesting when they confirm my thoughts and things SUCH AS A GOLDEN CROSS OR A DEATH CROSS etc, but SLP appears to go its own sweet way."

1) Whilst I agree with posts the other day that a 'golden cross' is likely to be seen in say approx a week or so's time, its use on volatile small-cap stocks like SLP does not in this case, aid the investor but does provide back-up confirmation to faster-responding data.

For instance, the big change in SLP's fortunes SP-wise, commenced in May of last year and retraced alarmingly from the ATH in May and didn't cease until the floor in August of the same year. ('The Floor' only with the wonderful gift of hindsight, as too much going on back then, to think clearly at the time).

The 'Death Cross' occurred in late August, unfortunately for it, more or less in synch when the SP floored, and it was time to get back in - and not as the Death Cross suggested to get out of SLP.

So technically wrong advice in this instance.

It's now due (as was posted by others) soon to cross to the upside (Golden Cross) perhaps in a couple of weeks (if the SP can hold steady next week) to signal only then, as safe to buy.

However, price climbed above the 200 day trend in late February, pre-empting the looming G/Cross and thus signaling that it was safer to consider getting back in (perhaps; now under further examination).
There is a possibility it was a false breakout, have to see what next week brings.

So in this instance the Death Cross was advising to get out of SLP in late August when investors had already suffered greatly for nearly 4 months!

A bit late in its warning, wouldn't you agree?

However, it's likely (but not a certainty after the second half of this week's performance) to now add a confirmation that sentiment is/was? trying to break out from the big retrace from May last year.

It's not that SLP was "going its own way", but rather a case of needing the choose the most appropriate tools for the job in hand.

2) " YOU'D HAVE TO WONDER IF CHART ANALYSIS WORKS ALL THAT WELL FOR SMALL CAP COMPANIES".

Some quarters advise not to use on small caps or new listings under 6 months old.
Horses for courses, I say.

I have no problems if using ma trends on small caps and selected indicators. However, occasionally 1% of the time (approx) indicators and oscillators can head off in the opposite direction to subsequent reality.
Not so trends (lagging indicators). So probabilities and not certainties. Overall I accept the probabilities and generally find no problem.

But if you did want to provide evidence that "some" chart analysis doesn't always work you have one in action before your eyes right now - with THS!

Continues

Thanks, AF/Games - Kind of you to say so.

PS.
A post to Nimrod above, then if time tonight (but if not, then tomorrow) a Monday post of where (IMO) the pivot points might now likely lie on Monday.

For the final day of the week, here's what I'll be looking for as my personal worry points, and cheer points -

Closing on 102 will mean nothing. A neutral pivot point that simply translates as a rematch is needed on Monday.

Despite 97 being strong support, for Friday alone a close on 98 or anything between that and up to just below 102, tilts things in favour of the bears strengthening for Monday.

However, I'm surprised at the gaps that indicate the SP is heading strongly for the upside. if the SP gets in its stride.

First up is (hello again) 105.
Close on anything between 102 and 105 will keep me smiling.

But what if the same is possible as last Monday, and the SP gets past 105?
Again surprisingly, the road is then clear all the way to 109.

Next resistance level is so unbelievable - so will leave that to see how far (if at all) price can get past 102.

----------
No less than 102 to keep the ball in the air for Monday.

( Concludes . . . )

. . . I put a lot of faith in the predominant trend - the 200-day trend. It's sitting at 97. And is acting as a support and repelled today's bear attack, such was its anti-gravity force field - price couldn't get close to its 97 border.

I'm holding to that view for tomorrow that the 200 should keep resisting with a policeman like outward palm saying: 'none-shall-pass'. Most major trends are bullishly strong, so I'm compelled to side with them.

(Allow a penny or two before drawing conclusions if price does break past the bouncer on the door that is the 200 day average).

However, I acknowledge that a host of bearish indicators are shaking their heads in denial, and are saying that things are turning bearish.

Will run-up some pivot points for tomorrow, to use as guide, as to where the probabilities lie. Will post that separately.

I'm still bullish - until the trends tell me not to be.

Right where to start?

I too, saw the news item (couple of days ago) that Toyota was to cease production on certain models/or all models/for a period of time, as the Ukrainian situation had made it unviable whilst the chip situation was also in play. Didn't read of other vehicle manufacturers doing the same; then again Toyota is the world's largest vehicle manufacturer - if it was their announcement that lead to Rh falling. (I did say 19,000 Rh would be troublesome) but on the day it was disposed of a bit too shockingly.

Other than that, it's the usual we'll never know the actual reason for today's and yesterdays strong pullbacks until long after today.

Looks like a nail in the coffin for EV's though. Imagine power cuts due to shortages for power stations; they'd have to fork out for home generators to power their chargers for their EV's. The cost of fuelling up those home generators would make EV's running costs more expensive than petrol-driven vehicles. But will there? Be power cuts?

To keep this short, will leave out tons swirling in my head relating to the past 2 days' startlingly strong pullbacks. I'm going with potentially (only temporary 2/3 days or so) of "Overhead Supply" issues kicking in.

Many who previously bought at 110-ish, might be just so pleased to get their stake money back, and sell up, exacerbating matters. But volume makes that view leak water. (120 will defo be an Overhead Supply issue period).

Volume was the greatest so far this year to date on Monday, with that massive one-day spike-up.
Tuesday was a weak day revealing indecisiveness which allowed a bear attack on Wed and today.
Every day's volume after Monday was less than the preceding day's volume, yet Wed and Today (today marginally higher volume than Wed but still less than earlier in the week) had great price movement strength - on lesser volume.

However, all this week is a little above the longer-term average volumes anyway. Maybe the declining volume might mean a short-lived attack?

Some bad bearish signs now abound - but they could be short-lived for 2 or 3 days??? And not turn into weeks of drops. I'm signing up to: It'll be short-lived unless more trend lines turn to the dark side, but they're not doing so yet.

The flibberty-gibbet Ultra-Short-term trend has crossed to the downside today and is bearish. Does that matter? On its own, certainly not.

All other major trends remain bullish, strong, and intact. They could change; but by then I'd be the last person reporting in, that the SP was in a downtrend, as it would have been obvious to all, due to the time taken for major trends to change direction.

I put a lot of faith in the predominant trend - the 200 day trend. It's sitting at 97. And is acting as a support and repelled today's bear attack, such was it's anti-gravity force field - price couldn't get close to its 97 border.

Contintinues > > >

Hi IC152. Yes. Short of time. Clearly Putin has farted in public.

1) My default opinion is that after 2 weeks of price living above the predominant trend it will (no, 'should' not will) it should now act as a support. That area is currently in the 97's). The 200 is (micro fractions) dropping again after only 2 days of levelling!)

Busy. Will post later.

1) Medium term trend just about visible now it's crossed to the bullish upside - should get stronger with each passing day.

2) First day of the 200 trend levelling off. Still not visible to the naked eye unless you drill down to a view over the last few single days.

That's a change from descent, which got under way by late November of last year as the 200 had kept on rising from the ATH in May straight through to November, whereupon it commenced falling. And that's AFTER the SP floored in August! (It's how it goes :)

Well now it's commenced its first day of levelling off. Will be some time before it can be visibly seen to be rising bullishly once more again, but it's the true start today.

This is what a bull run looks like - righting wrongs and changing remaining laggardy bear trends to join their quicker off the mark, shorter-term time frame trends to become rising bull trends :)

The speed of the turnaround is catching me a little off guard. Gut feeling was it would take longer. This month of March concludes Q3 so the last day of April will be the Q3 reveal. This year will be a year to write off. That doesn't mean the market will wait until July 1st to change it's opinion of a more amenable year for SLP. It's changing its opinion now.
This bull run is...well... running :)

A bit iffy in attempts from August to year end, but the bull run is now under way propa!

What an absolutely stunning performance today! Yay!

When I last posted that the first resistance level of 105 was a possibility - if the bulls were on form today Monday,
I ignored mentioning the 2nd and 3rd resistances as I often do, because I "assumed" after such an intraday drop back below 100 on Friday that a 'reasonable' performance was all that could be expected.

In other words I made a gut decision that it was pointless highlighting the 2nd and 3rd resistances as I regarded them as more than a bridge too far.

But look at the performance!

Not only was 105 bested, but the 2nd resistance of 109 (which I never mentioned)  was visited (and beaten by close/afterhours), with only the 3rd resistance of 115 proving to be out of reach.

Excellent bullish response. Two resistance levels disposed of in one day!

Not only did the medium trend kiss; it carried on and crossed to the upside and is, as of tonight clearly bullish.

Doesn't matter to me whatever reason is cited for today's spectacular performance or recent days running up to here, as I acknowledge others opinions and don't really care anyway, as I've long come to realise that the trends reflect all things bullish/bearish currently in play.

That's all trends now bullish apart from a descending 200 day trend. First thing to note though is that price is above the 200. That's very important.

And as before, I now await the tough-nut 200 to slow its descent in readiness to change direction.
I'm pleased the recent swing high has been bested. But even more pleased price is sat on top of the next prior high (110) - all in one day alone!

So NOW one can say that since August it's been a case of higher lows and now higher highs completed :)

Next target is the swing high in late July of last year. (Just a couple of single pence higher than tonight's close).
And then just a few more highs to beat (not many) after that . . . until the big face-off with the ATHIGH of May 2021. The big showdown.

I'm relaxing a bit now as I needed the SP to show it had some balls and take down those v recent prior highs and it has done. That's the start underway. And it all commenced from the absolute floor in August of last year.

Never thought that 110 area I was seeking, would be achieved so quickly, so effortlessly in one day with the SP busting through 2 intraday resistance levels to snatch the prize.

Hee hee.

I'm reasonably bullish for SLP with the majority of the trending time-frames supporting that in like-minded agreement.

(The remaining bear trend, the medium term trend, I'm expecting to at least kiss tomorrow and thereafter commence crossing to the upside; thus giving a full house).

With Price still above the predominant 200 day trend, all that's then required is for the 200 to cease diving, stabalise by levelling off, then commence rising - to finally give the SP a true full hand - the kind of thing last seen anytime before and up to, May 2021.

Been quite a wait.

However Friday did show some indecision. To test if there's anything to that sub-100 visit on Friday, my preference test for Monday is 102 - as it's that day's neutral 'pivot point' area.

That means any close below 102 heralds a potential threat to short term bullish progress on Tuesday.

If price can best 102 then probabilities are for further bullish progress on Tuesday (IMO).

Not only that, but I'm coming up with 105 availablity as the 1st resistance (for Monday only) so if the bulls own Monday, then 105 is certainly a contender on Monday and thus restore last Thursday's close.

That's for Monday alone.
We'll see.

But any close between 102 and 105 would be more than acceptable to me :)

Just so long as it's not a close below 102 !

In the middle of the article (approx below the diagram map) in the link below, it details that after the past week's horrific events, such is the turnaround in Germany's political decision making, it has dismantled more than half a century's liberal folded arms and turned-backs on military defences et al

- And has now ripped up its mandates on restricting itself militarily, that has been in force since the end of WWII on weapons and military controls due to the dangers that madmen like Midgetdick Man now place upon the world.

In a turnaround decision, billions are being poured into building up its military forces and weapons procurement and of all the nations in the world, by 2024 only the US and China will be spending more on defence than Germany!

Germany is forecast to be the THIRD largest spender on defence in the world!
A new player enters the field. From nowhere to the top tier!

It will dwarf our defence spending here in the UK and also in France, never mind the rest of the world (apart from only the US & China).

Germany is now set on a course to become a major world force in the geopolitical arena as well as the current economic powerhouse it already is.

The future of world truly has changed in a week flat.

https://www.theguardian.com/world/2022/mar/04/russia-ukraine-how-the-west-woke-up-to-vladimir-putin

. . . Well, more what my biases and opinions lead me to believe happened today! :)

- Last night (Thursday) I turned in for the night with reports of Ukraine's biggest nuclear power station under artillery fire from Russian forces. The last I recall was that the nuclear power station had taken such artillery fire it was now enduring uncontrollable fires raging through it.

That was before the market opened. So wasn't surprised to see all markets take severe hits with the threat of a nuclear radiation meltdown in Europe occurring.

Intraday, the SP tanked below £1.

As Friday progressed, the SP rebounded from the 90's area.

And it was then, I read the news update saying the fires raging in the nuclear power plant were now under control, extinguished and reassurances issued by Ukrainian staff that the main reactors had not been affected and that only the training facilities area had been on fire, and no radiation leaks were in evidence.

Also that Russian forces had succeeded in surrounding the power plant, had it under their control, but were allowing the Ukrainian staff there, to carry out their duties to keep the reactors safe from nuclear meltdown. Markets picked up somewhat, and stepped back a little from the brink.

SLP's SP had more or less followed in lockstep with that order of events.

Beforehand I was surprised at the increased ferocity of the 200 day trend rolling down to the 97's but dismissed it too easily, as I'm now pretty sure that the XD period may have had something to do with the acceleration as my stuff does discount dividends and all other stock splits into it's trends etc.,

So, yes, for awhile price did start being dragged down towards the 200 day trend area.

However my conclusion today, by Friday's close, was that international 'terror' events had temporarily added to the bearish pullback which should/would occur naturally during XD period anyway, but added to it, propelling the SP below £1 for a time.

Although they are lagging indicators - the trends of all time spans are still bullish.

And that's all that matters.

The SLP bull is still snorting, pawing at the ground with its hoof, and lowering its head in readiness; but on its own terms.

I last posted (when the SP was in the 170’s) of the next (potential) support being in the 167 area. I hinted of the next 2 lower supports but refrained from mentioning the levels as they seemed too outrageous (back then!)

Well the next lower support has been breached and that was the mid 140’s.

There appears no respite from this heavy bear downtrend, so don’t think I’m de-ramping when I post that the last reasonable support after the mid 140’s is in the lower 120’s area (IMO).

Still a chance that this low 140’s is the floor. Won’t know until the coming day’s reveal their hand.

The recent trading update included a para that met with my approval in that it revealed the company’s plan to separate the roles of the CEO and the chairman being held by a single person; and they would advise on further progress in due course.

My only concern would be, whichever role is prised away from Cowgill, please choose someone with fire in their belly and no more gently sloping off into the £cushy retirement-night types, who don’t have their eye on the ball anymore.

So was looking to top-up. Then the Russian-Midgetdick stuck his poison-oar in, so I delayed. Just as well judging by tonight’s close!

Now looking like the next Fibbo support could be between tonight’s close and the 120’s.
If so, I have to wait until the SP rises off the floor long enough for the trends to cross to bullish – meaning if price does drop further I will be unable to buy at the lowest point but am locked into following the trend for safety, meaning the SP could well rise significantly before I top-up.

However, all trends are still ferociously bearish currently, so what will be, will be.

. . . to see an SP close higher on XD day!

Shows the sheer strength of demand in the market that the manufactured drop in SP's expected in the XD period, was overwhelmed by any attempt of the MM's to lower the price on XD day. The SP is supposed to drop on XD day and remain under par until out of the XD period.

Tuesday was the small red down day, that removed concerns of the building non-stop gains day after day, by resetting things - but the XD period could yet slow things up in coming weeks - but for now, I like it all.

The effect upon the remaining bearish trend is notable (the medium-term trend). I last posted of the bearish medium-term trend, likely taking a week or so more before crossing to the upside. After today, remove the plural.
It's just a whisper away from kissing in preparation to that bullish cross to the upside; so more like one week, not weeks.

And that would give a full house of bullish trends showing that SLP's SP was back in business, except for the sinking 200 day trend. Despite price now sitting dominantly above it, the 200 is still diving, and has tore through 98 and tonight resides in the 97p's!

Didn't expect that so fast. Just the anomaly of the mathematics I suppose. But it still needs to convert to a rising trend. It's halfway there with price now above it, sitting like the king of the castle, helped by the falling 200-day trend, now increasing the gap, the further it falls away against a rising SP, but still need to see it rising too.

So, looking like the 200-day trend to start stabilising and commence rising, will be the last to change with the medium trend correcting before the 200 does.

Another good day in the bag. Won't relax somewhat until the SP starts flirting with 110.

Looking like it'll have a go!

What happened? A Profit Warning; issued this morning - that's what happened!

Possibly the worst time ever, to issue a profit warning in the face of the Russia influence hanging over everything.

A Profit Warning means the SP will be toxic for the next 12 months. But usually profit warning stocks recover in the 2nd year after the warning. Those with strong stomachs can top-up on the bottoms. But the word most usually applied to the SP in situations like this is "unreliable" for the next 12 months.

It does not mean the stock is going to the wall! Not at all.

I'll be watching during the next 12 months as no one will ever correctly call the bottom in that time, including myself. Best opportunity will be a year's time from now. It won't be a linear recovery.

Then there's current international carry-on with markets to factor in but that's the same for all stocks.

Check out this morning's trading update or click the news update button above for the precise sentence in the trading update that did the damage. If still unsure I might post further later tonight. Meanwhile I want to find out what started this rot from last summer.

This is one of my long term watchlist so not holding any stock.
Might return later but first what big event fked the SP up, from circa last summer that's only strengthened the bearish retrace from then until now?

Thanks Stoodio.

One thing I omitted to include last night was a preferred target for Monday, and the 103 area was the absolute minimum, with a preference for a decisive 104 close as more desirable.

Intraday, it went through 104 up to 105 maximum today (Monday) but couldn't hold either
but anyway, a good enough close to just squeeze past the most recent of previous highs - not done that at all, since May of last year. That 'first' achievement, is in itself is a good sign.

But need more to confirm a really good close well clear of that recent high in this area, as this is the dangerous area where all previous attempts came to grief with the 200 trend, reeling in all previous escapee attempts.

There's a possibility of a little temporary pullback as 5 days already in the bag of non-stop consecutive gains
so pushing it to expect nothing but gains without the odd red day of zig-zag pullbacks.
Shouldn't disturb the current bullish trend if any pullback is short-lived to just a couple of days.

The 200 trend dropped quite quickly from 100 to 99 first thing on Monday morning - which was a little quicker than I was expecting. Not nice for the predominant trend to now be down into double figures. At this rate of descent am expecting 98 by end of the week. Not good as the steepness of the descent is not slowing at all.
Really need a firm SP increase or two that holds above the 200day trend as a minimum, to deliver the much needed medicine.

On the one hand, somewhat easier for the SP now, as the 200 has dropped into double figures (99p) to beat - but dangerous in that it also signals staying out of the double figure SP range is increasing it's magnetic pullback.

Consolidate this area and head on for the next swing high target of 109/110 and do it again, to change the predominant trend.

As the songs goes: It's Now or Never.

Almost midnight and time only for a quick late night post as not free until later next  midweek:

As regards the SP trendwise under these internationally threatening times, nothing has changed since midgetdick's war crimes commenced. All is still bullish as before the crimes, with slight improvements on those trends that were bearish back then.
Here's the position as of Friday's close:
 
SLP Currently -

Price to 200 day ma trend .= Bullish/Bearish . . * * * *

Long term trends . . . . . . . .= BULLISH
Medium term trend . . . . . .= Bearish . . * * *
Intermediate trend . . . . . . = BULLISH
Short term trend . . . . . . . . = BULLISH
Ultra-short term trend . . . = BULLISH

Monday of last week was the single, severest pullback and dinged the Short term trend a tad, but not enough to make it cross to the downside. It resisted. And by the end of the day remained firmly bullish and not once since then or the poison dwarf's invasion later in the week, did it ever budge from anything other than show a bullish face to the world! Simply Amazing and Good enough for me :)

I'm expecting this second attempt on the 200 day trend to continue tomorrow Monday, and onwards due to the trend imorovements above highlighted by the * * * *'s as follows:

- - - - - - - -

* * *
The Medium term trend is still bearish as before, but is narrowing dramatically in preperation towards a bullish cross to the upside, which on current trajectory looks as if it might be another week or so, rather than days to achieve. As it has moved towards improvement over the international events last week, I'm taking that as a bullish encouragement, but of course can't count the chickens until it actually does cross to the upside.

* * * *
The 200 day trend is technically bullish as of Friday night - bravo!
But - it commenced it's journey on Friday just fractions only, below the 200 day trend before closing above it  (which has now dropped to 100p and looking like it will drop further to 99 early next week).
Need to see days and days, of opening and closing above the 200 day trend.
A single day won't do it.

The week prior to last week, achieved only one solitary day opening and closing above the 200 day trend before capitulating and falling back below it. (The more attempts the better). It's not a bad thing to take several attempts - on the contrary, repeated attempts nearly always lead to one day achieving and holding that base camp!

But that is only stage 1.

Stage 2 is to build on living above the 200 , so that the 200day trend ceases the submarine dive, levels off for a few days, then joy of joy's reverses trend and starts rising. Only then, will the 200 day trend signal the bear condition in the SP is over.

So the SP is looking mighty bullish going into Monday (IMO)  but still a lot of work to do before the victory flag can be hauled up on top of the spires.