- A perfect example of price volume breakdown.
- Change of volume from 1.702 M to 61 M a Huge change with price fall.
- For bears the problem is that the Head and shoulders Target seems to be achieved.
- So we might see a bounce towards 315 - 320 levels. And then fall bigger.
- But such a huge volume sell will put pressure on bulls in the coming months.
- NIFTY WEEKEND UPDATE
The classic 78% retracement of the previous rise. How simplisticly devious. Good chance 'Ol bucky is ready for a run up. The weak hands, waiting for the Euro to fall during massive bad news probably threw in the towel on USD as "doomed". The question, is ---more doomier than thou? All currencies are doomed in fact, at least paper ones. All of them. At some point the leaderships that control monetary supply will bring the value of each currency in the world, to zero. That is the way it works, in history, every time.
ReplyDeleteThis isn't much of a "double bottom" or what I keep trying to remind myself of...markets are tricky, they like to fake out those who jump on, and retrace back to shake them off. Then when are "burnt" they are afraid to jump on again....so only the biggest boyz get to join in on the largest move. Biggest or smartest. I nickname this tendency the DRTV Dog Returneth To Vomit. The graphic image jumps into my brain, works for simple, simple mnemonic tricks.
I am leaving ES alone, as ES is more likely to be directly gamed. Esp. by the current administration who call the P/E ratio the "profit to earnings" ratio.
http://oahutrading.blogspot.com/2011/06/ol-bucky.html
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