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Jayson,
It was a quite accurate prediction for both levels [CSCO $17.20, BEAS
$10.90], they were the hard upper blocks for this session.
BTW, a 10.40 to 10.90 BEAS movement would not be the worse idea,
especially if you knew that 10.90 is a strong resistance and there is
no reason for more risk today...
DT
> --- In amibroker@xxxxxxxxxxxxxxx, "Jayson" <jcasavant@xxxx> wrote:
> > 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 ? :)
> >
> > 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
> > -----Original Message-----
> > From: Dimitris Tsokakis [mailto:TSOKAKIS@x...]
> > Sent: Tuesday, June 24, 2003 5:59 AM
> > To: amibroker@xxxxxxxxxxxxxxx
> > Subject: [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 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 Tsokakis
> >
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