4 replies to this topic

[SemiBizz]

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



Otherwise just a normal consolidation ... 2619-25 area. We are over volume resistance on relative peanuts for volume... 7/26 and the "Twin Towers" of record volume 8/8 and 8/9. We'll know more by Tuesday.

[SemiBizz]

(Blog Update) We are over the "Twin Towers" of volume and price from 8/8 and 8/9 on relative peanuts for volume here between yesterday and today. We had a long period of cause of light volume sideways move and we had a dramatic response to that yesterday. Relative to the preceding period, volume was robust... but with respect to the volume pivot highs it was bleak. We should see this move down smartly at some point because the volume is here. We'll be looking for a read on that volume and price data and stay agnostic about whether we're going higher or lower in the long term... again, I am skeptical. For now look for a pullback to the 2619-25 area and then we'll see what it looks like. Let me just say WHY I am skeptical... because I believe we already answered this question on 8/8 and 8/9... We had quality of volume DOWN... that was the major test of this late bull market and for now we FAILED.

Edited by SemiBizz, 19 September 2007 - 09:40 AM.

[SemiBizz]

Looking at the intraday charts on Nasdaq... we should see some support at 2651... 3 min Trends on Nasdaq and QQQQ have just turned DOWN.

[SemiBizz]

Nasdaq just printed low of day...Volume consistent with retest...

[cafeflorida]

Excellent read of the Tiger TTT, and [I don't mean Trader's Talk].