could the MJ sector etf still have a leg up left over
according to history, yes. according to current price action, no. it would not be a good short, but its also not a good long without a break of character to the upside.
looking at all volume weights and the price the downtrend remains very much intact. tommorow the top of the range may be hit, although resistance would be stiff, and a breakout to the upside would have little chance to regain tuesdays highs.
this is still clearly an attractive long at many levels for a lot of reasons, and thats why ive sided with buy after this particulare daily extreme and rejection candle, sliding down toward an equally uneven bull market lower.
looking at all volume weights and the price the downtrend remains very much intact. tommorow the top of the range may be hit, although resistance would be stiff, and a breakout to the upside would have little chance to regain tuesdays highs.
this is still clearly an attractive long at many levels for a lot of reasons, and thats why ive sided with buy after this particulare daily extreme and rejection candle, sliding down toward an equally uneven bull market lower.