12 replies to this topic

[SemiBizz]

So looking at the Nasdaq Composite now we have

 

S1 4706

 

S2 4688

[NAV]

You don't always need volume, everything I pointed out there refers to price behavior in a price range....

 

 

 

Been saying that for years. All you need is price. I don't need anything else.

[SemiBizz]

 

 

If you don't see volume as valuable in  your work, I am not here to talk you into it...

 

In the interpretation of price patterns and behaviors, there are things we can observe with absolutely no need for anything but price, and position... Overall chart structure and architecture related to price behaviors... When we can add volume to it, we get a chance to confirm our logic.

 

But we don't need volume to see that SOXX closed in No Man's land last night, and the big vacuum underneath as there were very few days traded in this price range, and mostly it is gappy and unstable with LROD (Large Range Outside Days) prevalent.

 

So we can conclude we have definite weakness here .. with the S1 support at 626, S2 at 608.

We'll see if they just blast it out of here too...

Edited by SemiBizz, 05 May 2016 - 08:29 AM.