We are still very much in overbought territory on the weekly chart.Imo,we could see LXV continue correcting over the next week down to the .50-.60 area,before we move on to the higher levels.

Everyone has been prepared for the launch for some time.So that alone will not be a trigger to higher prices.The goal for most traders was playing the hype on the way up to the launch.Now,it becomes a company that has to show forward progress with huge numbers of active users and financials being part of the equation.

How many people will move to the sidelines from here,knowing the stock has risen so fast,and a correction has begun,knowing they are chancing losing whatever profits they have made so far,or losing more from higher levels they bought at?How many will want to see how this all progresses before they chance going all in again?Imo,only the daytraders will make money here until it is finished correcting.

The sentiment has changed,and won't reverse until the price comes back to a more manageable and believable level for the next upleg.Maybe I'll be wrong,but I''ll wait to buy back in at lower levels.