Bulls making some progress in cracking the ceiling on this flag today. First bull
run ending on the 6th of March fell short of reaching surface. The second run ending on the 26th of March spent some time attempting to breach but was strongly rejected on high volume
. The third run ending on the 3rd of April
made some progress with deeper penetration and did not give up as much ground. Yet, volume
was still high. Todays
action further suggest bears may be weakening as price has penetrated the ice on lower volume
and is looking to close above it.