The Bears are hanging in there and trying their hardest to keep the Bulls from taking out the Range High.
And they have been doing a pretty good job so far, as the Bulls just made their 3rd attempt to take out the Range High, but seem to have failed, or at least that is what it is looking like for now.
And since we are on the subject of what things look like right now, lets talk about how those 3 attempts the Bulls made to get back up to the Range High are looking awfully similar to a Wyckoff Model 2 Distribution.
And if that is what I think it looks like, this could be bad news for the Bulls.
Because if this is a Wyckoff Distribution, it could mean the Bears are getting ready to send these Bulls back down to 74.9K.
And if the Bears build enough momentum, they will more than likely start filling those gaps the Bulls left in the middle of the road, like some highway maintenance workers coming in to fix the damage.
But all hope is not gone just yet for the Bulls.
Because there is always a chance this Wyckoff Distribution fails, flip flops into a Wyckoff Accumulation, and sends the Bulls right back up toward the Current Range High.
And that is where things could get very interesting.
Is this really a Distribution?
Or are the Bears setting themselves up for a nasty surprise when the Bulls flip the script and turn this whole thing into Accumulation?
Lets go to a lower Time Frame and see how that just may happen
