I think a case can be made that some smart big money is building...

I think a case can be made that some smart big money is building a sizeable stake in IMU.

First, we had the big volume and rise in IMU back in November, 2023. (Not shown on above chart). Lots of FOMO came into the market at the top of that rise. Mr Smart Money then unloaded plenty of stock to the numb-bats (most of us).

Now, more recently, the biggish volume and turn-around in the share price on Monday and Tuesday. It's hard not to see that on the above chart.

Whoever is behind this buying is picking moments at the lows of the IMU action. That, and the volumes involved, suggest that this is smart money in action.

That smart money has plenty of time on their side. They won't need to hurry.

I have to wonder: What do they know that us, the great unwashed, don't?

On Tuesday after rising sharply off the lows on Monday, IMU hit major horizontal resistance from 14 December and has now taken a pause. A three day pull-back. Pressure remains on the down side, with 20DEMA, 50DEMA and two blue Super Trend Lines all exerting downside pressure. In the very short-term, support is provided by a rising Hull MA13 and one yellow Super Trend Line (10/1).

All my indicators are below their mid-lines (50) or below zero. They need to be above those to be bullish.

This week's kick-up in the Force Index (determined by volume and price) is unmistakable. But still remains below its zero line. A break above its zero line would be bullish.

Good luck.