AI
Tuesday, November 08, 2005 3:25:25 PM
I am watching the volume levels here.
We pushed through the price highs of 8/5 and 9/16 weekly bars with alot more volume [relatively] last week than those preceeding weeks. And last weeks volume was equal [relatively] to the week of 10/7 when we pushed the price high. I would have prefered it to be more vs equal volume, but at least it was not less.
I am cautious as we are up against the high from the 1/7 bar, see arrow. We need to get through that price high with volume or I see it as a false break out, ie higher high on less volume. So, as we sit here under the red horizontal resistance line, I hear you Frank, I want to see us build some cause in the form of a low volume sidways move or a narrow retracement; no more than .618.
We've had a 4 week thrusting move up, is it finished and heading into a consolidation? Don't know but I'm watching.
I'd be happy with us continuing right on up and busting through right now with volume as well, but where's the drama in that?
So, I agree ~ trend is up and the chart is setup to go higher.
Here I sit, waiting for the market to release it's intentions as to what it is going to do. Daily below, fwiw
You know me eslewhere as NowShesBlonde, by the way.
Current swing point we are "working" on is $40.29. That high needs to be passed on more volume relatively than the 101M shares that was used to set that price high. So, as long as we stay below the red line building cause for the run at the $40.29 high I am a nervouse but happy bull. A close above on lighter volume would not make me happy.
cheap free you get what you pay for.
We pushed through the price highs of 8/5 and 9/16 weekly bars with alot more volume [relatively] last week than those preceeding weeks. And last weeks volume was equal [relatively] to the week of 10/7 when we pushed the price high. I would have prefered it to be more vs equal volume, but at least it was not less.
I am cautious as we are up against the high from the 1/7 bar, see arrow. We need to get through that price high with volume or I see it as a false break out, ie higher high on less volume. So, as we sit here under the red horizontal resistance line, I hear you Frank, I want to see us build some cause in the form of a low volume sidways move or a narrow retracement; no more than .618.
We've had a 4 week thrusting move up, is it finished and heading into a consolidation? Don't know but I'm watching.
I'd be happy with us continuing right on up and busting through right now with volume as well, but where's the drama in that?
So, I agree ~ trend is up and the chart is setup to go higher.
Here I sit, waiting for the market to release it's intentions as to what it is going to do. Daily below, fwiw
You know me eslewhere as NowShesBlonde, by the way.
Current swing point we are "working" on is $40.29. That high needs to be passed on more volume relatively than the 101M shares that was used to set that price high. So, as long as we stay below the red line building cause for the run at the $40.29 high I am a nervouse but happy bull. A close above on lighter volume would not make me happy.
cheap free you get what you pay for.
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