Note to self that there's a big gap. Will update chart in the near future.
We are still waiting for the market to determine the direction on SMC. SMC is currently forming a pattern, which I think might be a possible head and shoulder pattern. The pattern if correctly interpreted as such, and confirmed by a break out upwards, then should provide an interpretation about the market's conviction on SMC.
Updated commentary on May 12, 2013. Orginally posted on May 6, 2013.
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