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Wednesday, December 10, 2008 10:46:07 AM
Stocktiming.com Wednesday, December 10th. - Stock Trends, Charts, and Commentary
"The Institutional Index of "core holdings" had an "inside day" yesterday. What is an inside day?
An inside day is one where the day's trading range is within the trading range of the previous day's bar. Thus, neither a new high nor a new low was made over the previous day's movement.
Technicians consider an inside day as a day of indecision because neither the bulls nor the bears were capable of moving the market higher or lower.
However, many technicians consider an inside day to have a negative bias, or to be under duress
if the daily bar closes below the half way point of the previous day.
I posted the chart for the Institutional Index of core holdings below. Note the close ups on the left hand side. The two candle sticks (with the black background) represent Monday and Tuesday's movements.
Yesterday, the index closed slightly below the half way point of the previous day's bar, so technicians would label the market as being under duress today and they would look for which way today's bar would break out ... above or below yesterday's bar?
George.
Click on "In reply to", to see any past commentary.
"The Institutional Index of "core holdings" had an "inside day" yesterday. What is an inside day?
An inside day is one where the day's trading range is within the trading range of the previous day's bar. Thus, neither a new high nor a new low was made over the previous day's movement.
Technicians consider an inside day as a day of indecision because neither the bulls nor the bears were capable of moving the market higher or lower.
However, many technicians consider an inside day to have a negative bias, or to be under duress
if the daily bar closes below the half way point of the previous day.
I posted the chart for the Institutional Index of core holdings below. Note the close ups on the left hand side. The two candle sticks (with the black background) represent Monday and Tuesday's movements.
Yesterday, the index closed slightly below the half way point of the previous day's bar, so technicians would label the market as being under duress today and they would look for which way today's bar would break out ... above or below yesterday's bar?
George.
Click on "In reply to", to see any past commentary.
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