8/1/14, 8/11/14, and 8/15/14 we have seen a very strong bounce after sell off but last 2 failed to show any follow through, will Friday's strong action show follow through today..All of them closed above 3-EMA but failed to push above the Wilder smoothing average which is also very reliable. If that happens next few session expect to maintain above the median line of Pitch Fork which will send a note to short sellers. As long the trend stays below 50ma don't expect much excitement upside: Play short term trades. We are neutral now with slightly bullish upside.
