However, if you look at volume and breadth, it does not jive with the story at all. So something tells me it is still a trap.
But even if it is a trap, I am walking into it. By that I mean I am short. And even though I think we will get a bounce here, I will not change my position. The long term trend is down, and these squiggles (while annoying) are not convincing me that the trend is back up.
So if I have to endure some more sideways and up action, so be it. I am a patient guy. I will wait for the larger trend to unfold. I am still not interested in playing short term volatile and largely unreadable bounces.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-3K1rS94DHDPkqUhGKtfcY1zWCNo35_619rgKyXg1Abdhy2ZOBv0eQC8vbsKVywLPnwB4OsXkkEhE4BA5a-Me-CD7erH84RgH5nC-GgP49YBseP0rP4GcRWxmvJrPwgRES6m6hRgspI6a/s320/0binve-001-201.png)