Hi Joemama,  we've established the top of our short term-trading range and $5 was the ceiling.  I remember hearing that a TD analyst valuated NOT at $4.85 after Hole 27, and I think the latest buying gap was a combination of technical events and buyers having the go-ahead to accumulate up to a certain point.  It's not just TD, but RBC direct investing also rates NOT a strong-buy. 

$5 is a logical ceiling, but I prefer to think of it instead as a point which investors are presently cautious to purchase beyond.  There have been plenty of opportunities since NOT has hit $7 for investors to purchase shares for as low as $2.50... so, in order for SP to hold above $5, we really need a longer consolidation period or more news (I prefer the latter).  $5 is also significant because: It was September resistance, October support, December resistance, Is the top of the bollinger band, Is a natural psychological threshold ie. 1,5,10,25,50,100, Is double the Jan. low ($2.50).

The volume indicates this is not a sell-off, it's moreso a case of buyers waiting to buy bc they believe that future trading will discount the price.  SP has been trading around the 100day SMA, which was resistance Jan 28 and 30.  Unless there are stronger events/indicators, there's a chance it may now offer our SP support around the $4.50 range.

Not sure if this helps, or if it is even correct.  But, the truth is, the SP is just like a pingpong ball in a game with moving paddles.  Between market events and NR, the trick is to guess where the paddles are and if they are strong enough to reverse the SP momentum (no doubt it's easier to forecast the weather). 

Only thing is - every once in awhile midgame, something comes along unexpected and wallops the ball clear off the table and onto the court, and you damn sure want to be behind the ball when this happens.