The Diamonds cry out to be kicked in the nuts, since they bounced yesterday from such a stupidly obvious place, a nickel beneath the key low at 97.75 recorded on May 25. Keep in mind that this is NOT a double bottom in Hidden Pivot terms, since the 5-cent overshoot created a proper, bearish impulse leg. We’ll let things play out a bit before we attempt again to get short. The chart shows where a telling midpoint could conceivably form, providing us with an objective rationale — and a plan — for action.
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