12 replies to this topic

[SemiBizz]

The target for this rally on an intraday basis is 2603 (30 min chart volume resistance). Volume is robust once again today, but not as strong as the 3.4B we went down on Thursday... The question will be answered now on where lighter volume takes us, because we're probably looking at about 2.5B. If we just crumble from here, then we're probably going well under 2500...

[relax]

Thansk for sharing semi Can we agree that the key is the light volume...seems like we getting all the big moves down on high volume if the trend is turning, shouldn't we get moves down on light volume

[HoseB]

"... Can we agree that the key is the light volume[?]..."

Disagree. Volume considerations are unreliable. Disregard volume, and you'll make more $$$.

[SemiBizz]

Thansk for sharing semi
Can we agree that the key is the light volume...seems like we getting all the big moves down on high volume
if the trend is turning, shouldn't we get moves down on light volume

Here's the situation on the daily... we have 6 red candles in succession, the last time we had 5 red candles in succession was in October of 2005. With respect to the local zone, I think you have to expect at least one green candle one day soon. Overall, the volume should lighten up for summer trading, dog days of August etc. That is precisely how this all started last year... on light volume.

So I think the answer to your question is probably yes, we'd expect to go lower on light volume now under trend change, but looking at how deep we have gone here you have to expect a bounce...that does not mean we do not turn around and continue lower on lighter volume...

[traderpaul]

SemiB, I don't understand about the part deux.....Looked it up it is some kind of Korean hip hop band.....Is that what you mean?

[SemiBizz]

Posted July 25th

[traderpaul]

Posted July 25th

Thanks Semib.
With or without volume it is bearish....Chart.....and check out the projection.....

[thespookyone]

Posted July 25th

Thanks Semib.
With or without volume it is bearish....Chart.....and check out the projection.....

Ignoring volume won't turn out too fresh for you-just a guess.

[relax]

Price projections in point & figure seldom work out i do not think one can label anything as bearish or bullish without seeing the strength or lack of in a move going against the "trend" of the past week

[traderpaul]

Price projections in point & figure seldom work out

i do not think one can label anything as bearish or bullish without seeing the strength or lack of in a move going against the "trend" of the past week

F&P charts are support and resistance and no more....When an index breaks support, it is bullish or bearish?
I have seen the projection on some flying stocks within pennies of the projection.....Just like anything else in this market nothing works 100%.....Nothing.....