Friday, February 18, 2011

Not as Strong as it Looked

Across the board the dominant price volume relationship was Close Up and Volume Down-300 S&P stocks came in like that, nearly half of the Dow. This also happens to be the most bearish of the 4 P:V relationships.

Traders were content with today's gains or the PPT was and there was no further upside through resistance hit 3X forming a progressively worse negative divergence. Everything is lined up nicely for their breakout of the wedge to be a false breakout, we just need price to confirm of course

Just a word of caution to those of you who are trading leveraged WTFs of market averages,

No comments: