With the close this week, it looks like we are going to get one in the next week or so.
Looking ahead, there are two spots that look compelling from a pullback and support standpoint.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiERIZrvUtgjIztFSH__LhRzRLWf_Jgn7dFLHSbW0zDoNB-5XKqBYtfFWU5dKp5rdtqCqU33y5ui4a04qvLCnxJgi0TF4smuLtttzVH9EB3jcZfo5lfmeMPqgy1nQo9-0E2VN0N_nrirpwG/s320/001-binve_01.png)
Both of these zones would make for a very nice looking Cup and Handle on the Daily chart.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEigVhoiZqjlE74kzOeNV0mpYqX8wY6vLU0BnPXqiflsYA6YdxcAnY4ROcjrKEfONE9ZEVP75skZFvJplSTLb8L9R02trKxou7hgcSyCER-Sgc2wvmJ22E8c0FyNcojIQfDbyNBmnYR8kTV5/s320/001-binve_02.png)
And like I said before (Apr 7 - Daily and 60-min Cycles, Looking for an Edge) even though I am still looking for lower low on my 60-min system, my Daily System has not issued a sell-signal. And even more, my main indicator on my Daily System increased alongside price all the way up to early April peak. And as I said in the study, 90% of all Daily Cycles with the same characteristics (18 of 20) made higher price peaks after my main indicator rolls over (i.e. 90% chance that I will see a divergence before I get a Daily System sell signal).
For this reason (among many others) I am not looking for a 'major' top here. Rather I think this is a tradeable pullback from a swing trading perspective which will lead to a very buy-able dip from a longer term position trading perspective.