5 replies to this topic

[SemiBizz]

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



We are going back down now and test that big volume spike low of 47. If you draw a trendline from the last leg up and then draw the volume trendline it's the dreaded JAWS formation... where price accelerates on no volume...
<
And the Jaws are fixin' to SNAP SHUT !
>
Price declines on HEAVY VOLUME...

Bulls need to see one of these patterns to get out of this...
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Edited by SemiBizz, 07 August 2007 - 10:47 AM.

[SemiBizz]

One more thing has changed dramatically... tops are not plateaus anymore... they are inverted V's or



^

Take a look ....



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

And the way this works is price is elevated in the hopes of attracting volume... (short squeeze)



Now, no question about it, BIG VOLUME is coming at the close...we are about to find out a lot about where this market is going from here...

Edited by SemiBizz, 07 August 2007 - 11:07 AM.

[ogm]

And the way this works is price is elevated in the hopes of attracting volume... (short squeeze)

Oh, it will attract volume ... you can bet on it

Look how BSC is attracting it. They don't know where to run now.

Edited by ogm, 07 August 2007 - 11:08 AM.

[SemiBizz]

I am flat here... but extremely skeptical of this light volume wonder that started yesterday and until the market proves otherwise, it is still in a downtrend... I expect a big puke off the Fed today... The fib cluster on the Nasdaq at 2557 and the SOX 490 are the two keys here...I covered my shorts at 2492 yesterday as I indicated I would... so I am ready for whatever happens... but I have to see verification and proof before I let go of a proven trend... (DOWN for Nasdaq)

[selecto]

I agree. Longs closed. The 60 minute mo mo is topped and "must" roll which I think it will with the announcement.

[SemiBizz]

The problem with all these inverted V tops is trying to use them as a foundation to move higher... like standing on swiss cheese...