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I had umpired 11 softball games last weekend and I was to tired to post.
Attached 3 charts.
I didn't send new highs - new lows and total volume. But they look ok.
One thing I want you all to remember is that I am trying to show you
some basic patterns that are present in all corrections at some point or
another.
Also I have noticed that some had try to apply the same logic of Up/Down
Volume ratio to Stocks. It doesn't work the same way. It doesn't me you
can't discover something new, but what I am presenting doesn't apply to
stocks.
(Here's a mouth full->tongue in cheek.)
At the open on Friday the Up/Down vol ratio was 20 for the 1st 10
minutes of the market. A very good sign. The Up/Down volume may of
stayed high for the day but tappered off gradually. However, the events
in the middle east that caused inflation fears (over the oil problems) ,
that pushed oil prices higher and brought the 30 yr bond up, that pushed
the Up/Down volume down, that caused the market to tank.
Anyway it was fun to watch in real time. (close to it give or take a few
seconds.)
Dji4oc.gif-
3 purple dots to show where the low, high & higher low for the Raff
regression channel, then extended to the right.
Note the small surge in up/down vol during the end of both corrections.
Both are marked with vertical arrows from up/down vol to price.
The last correction took around three weeks from the bottom to the surge
of Up/Down Volume. This one is taking slightly longer.
Updnvo.gif
I just wanted to point out to you how the momentum in the Up/Down volume
was increasing.
Anualfc.gif
Liebovitzs (sp) volume based prediction of the DJIA.
Harley Meyer
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