Tuesday, January 24, 2012 12:41:57 PM
SPY OBV signal possible
If we get a good round of selling late in day, such as would occur with a trendline break as described earlier, the OBV could decline below the range of the last 3.5 days and indicate a change in trend to the down side. In conjunction with violation of the MA17, this would say that we may be going down for 6 weeks. While this is in contrast to my general opinion, I try to be openminded.
Oddlot
If we get a good round of selling late in day, such as would occur with a trendline break as described earlier, the OBV could decline below the range of the last 3.5 days and indicate a change in trend to the down side. In conjunction with violation of the MA17, this would say that we may be going down for 6 weeks. While this is in contrast to my general opinion, I try to be openminded.
Oddlot
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