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S&P 500
5,307.23
(
0.00%
)
US TECH 100
18,294.00
(
0.36%
)
Dow Jones
39,319.78
(
-0.89%
)
Brent Oil
80.96
(
-0.71%
)
Bitcoin
67,967.01
(
-1.64%
)
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circlegridder

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circlegridder

Re: december post# 819

Sunday, 12/02/2007 11:00:20 PM

Sunday, December 02, 2007 11:00:20 PM

Post# of 1672
The huge volume and steady price tell me one thing and one thing only. There were as many sellers as there were buyers. That's why all that volume didnt move the price. It is typical of what is called a blowoff top. You can see the same thing in reverse on bottoms also.
The chart shows that we formed a cup after the recent high. I believe we are now forming the handle of what will be a cup and handle formation leading to a test of those recent highs.

I didnt know is not an excuse.

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