You are right the volume has been fairly low. The volume on the 2 bigger down days was definitely profit taking. I would think most of the volume over the last week was all profit taking. But I think you are wrong to assume the flippers left. The atmosphere here is perfect for flippers to flip. They may be out and getting out but they are not gone. They are waiting for a reload point.
Friday would have been a good time for a reload if you thought the PR would come today. Since it didnt I would say people who held off on Friday will sell today and our volume should be above normal. I do not expect a strong sell off yet. I think the flippers are waiting for a bottom.
I know I am waiting for a reload. I would like to increase my freebies. I will wait for a reversal sign.
Some think TA is a waste of time but it is much more reliable than Scotts dates so most will wait on a tech reversal
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