First close above the 20 DMA Today marks the firs

First close above the 20 DMA

Today marks the first close above the 20 DMA since July 25th. This should be enough to signal a breakout trigger for many traders. If you notice the late June breakout, we have a chart with a similar shape. There was a 3 day drop towards the end of the month that pierced 3 cents and then turned around to close above the 20 DMA.

If you look at today's action you will see that there was also a 3 day drop with a pierce of 3 cents, but it had an intraday low at 2.7 cents instead of the low 2's like in June. Then, we have a close above the 20 DMA with a high of the day at 3.5 cents just like back in June. This is also happening towards the end of the month.

The only thing I would have really like to have seen today was a close at the highs of the day at 3.5 cents. Seeing such a close would be much more compelling of a breakout signal.

What we did not see to day fortunately was a bunch of blatant tape manipulation like the previous 2 weeks and early this week. The bids just kept staying thick in the high 2's and low 3's with the bid creeping up.

I think we could have a breakout signal, but like I said I really would have liked it a lot more if it closed at the highs of the day. On the level 2's we know that is where the MM's have set up shop for the ask pin so it's not like they are just going to lay down and die, they seem to be just looking to play a containment strategy.

Hopefully we see more Facebook videos from Treaty this week, as that combined with the soon to be released 10 Q's should give us some real price moving action.

The close back above 3 cents by Friday obviously came true, so the next thing in store is the 4 cent or higher close by the end of the month.

[IMG]http://i.imgur.com/8ZkTo.png[/IMG]