No not always ther can be exhaustive volume if there is an obvious over reaction.But if the market believes the correction is about right then until an in balance occurs price will lose its volitility.
Gradual increase in volume over the last 3 days while the Index slides lower. Does this pattern always culminate with a final drive down in points accompanied by a peak in volume.
On individual stocks I am getting lots of buy signals with my system/methodology. High volumes on reaching support. Bought into a few things today, some a little early in the day, a couple on the close and lows for the day.
As a general rule when I get lots of buys at the same time, it has proven to be good entry points. When I get isolated signals here and there, the tendency is for poorer performance.
Close to 50% in today after being in cash yesterdayWill probably add tomorrow if market action acceptable.
The XAO is reaching good support at 4290-4320, there may be a spike down tomorrow and then a reversal, time will tell.
brty
In support of this, my software acknowledges past resistance & support levels. The thick green line AT 4291.9 was considered most significant support by the software and not me. What happens next?The XAO is reaching good support at 4290-4320, there may be a spike down tomorrow and then a reversal, time will tell.
brty
I hope for your sake.....
what makes you think the market should reverse tomorrow?
On individual stocks I am getting lots of buy signals with my system/methodology. High volumes on reaching support. Bought into a few things today, some a little early in the day, a couple on the close and lows for the day.
As a general rule when I get lots of buys at the same time, it has proven to be good entry points. When I get isolated signals here and there, the tendency is for poorer performance.
brty
I agree BRTY but from experience I also use the news as an added confirmation.
News has to confirm chart action ... so far no remedy has been released with regard to the greek crisis. That's where I draw the line we need news to confirm the charts.
BHP RIO QBE MQG these are all buy NOW signals BUT I will wait this one out. VERY hard to do sometimes but it will turn around one day and thats the day to get in not one day sooner
Watch the breaking of trendline though thats the safest thing
With your conditions!!!BHP RIO QBE MQG these are all buy NOW signals BUT I will wait this one out. VERY hard to do sometimes but it will turn around one day and thats the day to get in not one day sooner
I think the easy trade there was to short BHP? Obviously too many people are holding for that support level we touched today. Bad night on the dow and there will be blood on the streets tomorrow.
Only a short term fat lady singing
FWIW
Im in agreeance with brty on a bounce due.
NOT calling this the bottom of this overall move BUT am saying that IMO there is a nice quick long trade due right about .......here.
Or perhaps further drops would simply reflect the reality of the situation, i.e. that nothing much has changed other than a shifting around of paper, contaminating the reasonable balance sheets of e.g. Germany with the junk of Greece.
For the last two and a half years, there has simply been one artificial move after another. The fundamental problems of excessive debt are still there.
Once again charts don't lie. Just like the ascending wedge short signal formed with the neg divergence on the way up. So there was a buy signal on the low as well.
ONE THING I WANT TO MAKE CLEAR. I'm not claiming to have picked the bottom...
The Greek/Euro resolution has still not been announced but when it does the XJO will I think be flirting with 4500 resistance once again.
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