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<SPAN
class=359195712-24062003>Dimitris,
A lot
of interesting things the last few sessions. Are traders waiting for tomorrows
announcement from the FED, are we seeing a blow off from a nice summer run or a
change of character? Re CSCO , do you not also see this as a consolidation in a
down trend? Volume in the EOD charts have been strong throughout the entire
retracement. A clear channel is in place from 6/19 to the last session.
Would this not suggest lower prices ahead? Easier answered tomorrow, yes
? :)
<SPAN
class=359195712-24062003>
I
followed the work you did previously on vol by price. This post suggests you
have continued that work. Are you in fact finding the data to be
predictive?
Regards,
Jayson
<FONT face=Tahoma
size=2>-----Original Message-----From: Dimitris Tsokakis
[mailto:TSOKAKIS@xxxxxxxxx]Sent: Tuesday, June 24, 2003 5:59
AMTo: amibroker@xxxxxxxxxxxxxxxSubject: [amibroker]
Interesting Support/Resistance Levels
The last session revealed some interesting Support/Resistance
levels.
The market was in a long consolidative 2h period, from 12:00
to 14:00 and then tried lower levels.
Volume by Price 5min chart, offered by <A
href="">bigcharts.marketwatch.com was quite
indicative.
Stocks like CSCO with high Volume at these levels [$17.20]
defined a new S/R substantial level.
Stocks like BEAS, with regular volume for these levels
[$10.90] will search lower [and probably even lower...]
to meet the waiting buyers.
Intraday Volume by Price is of the most important tools,
for intraday and further reference.
Dimitris TsokakisSend
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