Signs of a top. This chart shows the $trans above the 200/50 dma but still far below the $spx not bullish so far.I have the technical high on 8-7-12 and have been overbought ever since.
The price is still unfolding.
I have on the 17th a 220 TD hit,on 8-21-12 both a 330 and a 55TD . The 55TD is supposed to be a high but looking at Friday we had down volume on an up price day, that is usually followed by either flat or down.
Chart below still looking for a low to place.
???????????????????????????????I had a question on this statement:
looking at Friday we had down volume on an up price day, that is usually followed by either flat or down.
Answer: Look at this upv chart / by total vol we see a down spike with spx up 2.65 a divergence.
I have added my sheet so you can see on column H BEIGE/GREEN the up and down %. If you look at spx to left you will see most times on beige days we are flat to down.
Now the % number is important because
it can tell you OB and OS. It's
one my most important indicators.
Total volume means nothing only the direction of the volume.I have said this many times in many years and finally some one read what I was saying. LOL
