Volume today is telling a story. My MMA market maker analysis says the major spec trader play is ending and the up coming MM walk down play begins! Never filled the gaps and volume 1/2ed and 1/2ed again! IMO
At this point, I'd start watching the 8 day aroon. I normally watch the 3 day vs 20 day to determine the short/long term trend. Lately the long was holding and the short fluxing. Showing continued up trend weeks view.
With todays rapid volume lowering and the last two days volume lowering, I think most suckers are gone and now it's up to the MMs to either draw them back or lower PPs for accumulation.
Not knowing where their heads are at now, the 8 day could give an indication of this.Will post what I think tonight, after the close.
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