11 replies to this topic

[flyers&divers]

This liquidity issue is beyond my scope at the moment, looks like I should make an effort to learn about it. I can see though how it could create support for the market when it - like now - needs it. F&D

[SemiBizz]

I think this is where the rubber meets the road with respect to volume....

http://bigcharts.mar...&mocktick=1.gif

The last candle of extreme volume was March 06. On apparently greater volume this month we penetrated the March 06 candle (high 2353). There was a price rejection as we were able to close in the range on only on two occasions 3/5 and 3/13. The 3/5 low was retested on 3/14 on slightly lower, but still lower volume, and we closed back up inside the trading range(bullish spring). The way I see it, Nasdaq must close the month inside the 2353 high of Mar 06, or chalk another one up for the bulls. The way it works is that if they can't break them DOWN, then they are going to take them UP. The bar is fairly low at this point, there are 8 trading days left in March, if the bulls can take the Nasdaq to a new high the correction is quite over and a sign of strength is in place. On the other hand if we close inside the 2353 then you can expect a move toward the lows of the March 06 lows 2239....The first clue that we might retest the 2353 again. will be a breakdown of 2394, the proximous candle of high volume from 1/07 and also the previous 2007 low. One trading strategy would be to stay long until the Nasdaq closes below that 2394...