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with permit from market volume
Short Term (lasts a few hours to a few days): In our short term of the last session, we mentioned that
""The trend has been that the markets will move lower in order to generate more
buying volume before moving higher and a continuation of this would not be out
of the question."
Our forward looking thought is that the possibility
remains for the index to continue this pattern as it did today. The longer it
does continue this pattern, the more the chances will increase that the trend
will be higher in the future but for the short term the index may be weaker than
stronger." Today's trading aligned with this outlook, the markets moved lower
and generated large surges of buying volume before responding to these surges
and moving higher.
The possibility is that the index will continue to
trade relatively close to these levels, it may move, then rally higher and end
up relatively unchanged. The trend lower is still the one that is dominate,
however a change may be occurring. There may be high volatility as today's
greater than 2% intra-day move can attest
to.
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