25 replies to this topic

[MoneyFriend]

Last year's volume profile, a close up.



If you dropped a marble right where the arrow is pointing, it would to roll to 1605. Path of least resistance.

Edited by MoneyFriend, 10 June 2009 - 09:14 PM.

[zigzag]

i'm sure there's a reason why you mark the "present" on a past time frame?

[MoneyFriend]

i'm sure there's a reason why you mark the "present" on a past time frame?

Its all the volume from today going back all the way to one year ago, "this past 12 months" would have been a clearer title.

[SemiBizz]

Well, I have a slightly different view... On Stronger Volume week of 5/8 we were unable to take out the highlighted weekly candle of 10/17... Actually, the trend lines you see on this chart were drawn months ago, and left... The target is 1250 week of 9/11/09.

Edited by SemiBizz, 10 June 2009 - 09:31 PM.

[skott]

good work semi. thanks

[arbman]

Excellent MF, I agree, 1050 is the same spot for SPX and it will be somehow tested this summer. I think it will determine the bull and bear divide into 2010...

[zigzag]

Semi, it looks like we did take it out but not on bigger volume. Is that what you said?

[MoneyFriend]

Well, I have a slightly different view...

On Stronger Volume week of 5/8 we were unable to take out the highlighted weekly candle of 10/17...

Actually, the trend lines you see on this chart were drawn months ago, and left...

The target is 1250 week of 9/11/09.

Semi, I just want to be sure I understand you right. Because the initial test of 5/8/09 failed to take out 10/17/08 highs, you think that downside is more probable here, even though 10/17/08 has now been taken out? Am I following you here?

The way I read volume is different, what happens after the high volume bar is more significant to me than what the high volume bar itself did.

Thx for sharing.

Edited by MoneyFriend, 10 June 2009 - 09:44 PM.

[SemiBizz]

It's telling us that the entire upside since the week of 5/8 is an upthrust... Good Luck.

[SemiBizz]

Semi, it looks like we did take it out but not on bigger volume. Is that what you said?

It says all the upside since 5/8 is a Bearish Upthrust.

Oh yeah while we may stay above the trend line for a few more weeks, it won't be more than a sideways up move from here... probably more like down.

Edited by SemiBizz, 10 June 2009 - 09:52 PM.