RE: Last week`s volume - sky
posted on
Feb 28, 2006 02:38AM
I have noticed that many times after a prolonged downtrend the DMI comes up for air for a short time, corrects and the second move up becomes more substantial. Right now the 200 EMA hasn`t turned up yet, the 50 and 13 EMA`s (which I prefer) are also below the 200 EMA - it`s dead tide now. On 2/24, there was , in my opinion, a clear bearish engulfing candlestick which, by the book, puts a stall on the previous uptrend. Yesterday`s candle bounced off the 200 EMA - that`s good. But the volume was lower.
Bottom line for me is that I believe those that want more chances to get in at cheaper prices will get it. But not for long. (That`s hope adding emphasis to my analysis - which is suspect at best).
If I had ANY money - which is why I can spend time reading T/A stuff, lol - I would be watching closely for some substantial volume with a price increase in the near future.
My little contribution for all the efforts others have put forth on this forum.
Win or lose, this game is wicked and GREAT! GLTA...