Ease of movement.
Today we had selling with the highest volume since the selling at the beginning of the month in an outside day and a close at the bottom. As we were going up primarily on the lack of selling, this change of behavior could mark a change of trend. The up down action of the past 5 days is frequently ending action and I will show a few more examples later.
An upthrust of the previous high and a back test of the
trendline is followed by ease of motion down, 2 hours of attempting to rally and a wide open break with the largest hourly volume this month. In one hour all of the upward work of 5 days was reversed. The direction of least resistance is down.
The upthrust is self explanatory. on it I saw tremendous short covering. 1 marks a rally that failed. After the shorts were done covering in new high ground, the demand was exhausted as seen in this rally attempt that failed, This is the second time we ran out of demand at this level and in ordinary bull moves would be the kiss of death. We went down with ease of movement,
eventually making a lower low by penetrating the green line. On the next rally is the up down pumping action that probably means intense selling(Green circle). This up down action occurs two more times before supply heretofore absent overcomes demand. This easily could be a change in trend
Who would believe it. All day long GS was the downside leader.
Ease of movement.
Today we had selling with the highest volume since the selling at the beginning of the month in an outside day and a close at the bottom. As we were going up primarily on the lack of selling, this change of behavior could mark a change of trend. The up down action of the past 5 days is frequently ending action and I will show a few more examples later.
An upthrust of the previous high and a back test of the trendline is followed by ease of motion down, 2 hours of attempting to rally and a wide open break with the largest hourly volume this month. In one hour all of the upward work of 5 days was reversed. The direction of least resistance is down.
The upthrust is self explanatory. on it I saw tremendous short covering. 1 marks a rally that failed. After the shorts were done covering in new high ground, the demand was exhausted as seen in this rally attempt that failed, This is the second time we ran out of demand at this level and in ordinary bull moves would be the kiss of death. We went down with ease of movement, eventually making a lower low by penetrating the green line. On the next rally is the up down pumping action that probably means intense selling(Green circle). This up down action occurs two more times before supply heretofore absent overcomes demand. This easily could be a change in trend
Who would believe it. All day long GS was the downside leader.
