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jbsliverer

04/11/10 11:02 PM

#82880 RE: doubleg #82879

The two volume arrows basically correlate with the inside falling wedge that broke upwards at the last run-up (light purple lines) and the triangle or wedge that might be confirmed when broken (yellow lines) and that the volume basically goes down even though one might see some upward day peaks as the wedges converge which is common for them to do. There really is a third volume arrow that correlates with the large greyish line wedge, but this chart doesn't show enough time span to portray it very well so only the two are there.

But, yes, if we get a break and confirmation of the current yellow wedge/triangle then I would expect a surge in volume as well, which we might have seen the beginning of on Friday. I feel we should see something this coming week and of course just speculation at this point, but I think it might be up considering everything else that is going on. I could be wrong because my crystal ball doesn't work all of the time, wedges and triangle get voided or updated easily, but one thing to remember is that the further the candles get into the point of a wedge or triangle, the more odds to a "fake" break before going in the real direction of the price and many times a more definite trend pursues also. Just my take.

We'll have to see where this goes, no Hail Mary passes here, but to many things going on with the TA's to not go somewhere.