KING_TRADER$, me neither. I'm a long-term investor, but I'm learning Japanese Candlesticks and other TA techniques out of pure curiosity. I prefer to learn as many strategies so that I have all the tools I need to be as successful as I can. Maybe I will trade eventually when I feel ready, but for now I'm content. I would say that I have a beginner's knowledge of Japanese Candlesticks, though I can accurately spot Japanese Candlestick patterns if I focus and look closely at the chart. There is significant historical evidence that dates Japanese Candlestick trading back to the 17th century to trade rice. I feel very confident in using this method based on its past accuracy if used correctly.
When I look at the volume for the S&P 500 (which I use to benchmark the market) I see no unusual volume signs. In fact, this months volume almost mocks the same volume for Dec. of 2012. If I had to blame it on something besides looking at the past. I would say that people that have sold for loses or gains, sold and people with a new strategy for 2014 are waiting to buy. This does not alarm me at all.
Bank of America (BAC) is holding the upper $15's better than I expected this far. I thought we would hold a base at the lower $15's, though I think its safe to say that BAC is finding a stable ground before advancing a higher PPS.
I'm not sure how BAC's PPS will react before earnings. The Government has turned the tables once again on the banking industry. Although this won't reflect earnings, it could very well be a factor. I have confidence BAC and the banking industry as a whole will beat 2013's earnings in 2014. I am very excited for 2014 personally.
Good luck, Gulley
