READ THE FOLLOWING POST FIRST
One can read this chart at least 2 ways. We moved up from the beginning of November on no volume with no selling, have reacted a few points on which no selling appeared and we are now ready to rock and roll.On the other hand no demand entered on new highs and there was even less demand on Friday's rally. Should selling kick in with ease of movement on the decline then this bull move might well be over.
Bullish chart. The last decline on the chart had reversed immediately probably emphasizing the support commented on in the first post.
The support at 10:00 failed to enlist much bullish support and the rally died out with lack of buying. The decline ended with a lack of selling. Ease of movement is on the sided of the bears but all in all the chart is neutral. So we still do not know the intentions of the 10 am support.
Bullish chart. The last decline on the chart had reversed immediately probably emphasizing the support commented on in the first post.
The support at 10:00 failed to enlist much bullish support and the rally died out with lack of buying. The decline ended with a lack of selling. Ease of movement is on the sided of the bears but all in all the chart is neutral. So we still do not know the intentions of the 10 am support.
