Haim, i don't usually use obv, haven't found it useful.
The volume on msft and sunw was exceptional on the breakouts friday.
The main things i look at are patterns, rsi, sentiment and the mcCllellan oscilator.
bway.net
I did this chart last weekend and intended to send it to you but since i went short techs on Friday, i just sent you the topping XCI chart -g-, the chart is a week old, but the consolidation is just a week longer, could mean a nice spring out of here for msft.
bway.net
The nifty five, sofware, semiconductors, boxes, internet infrastructure and the dot.com company.
There is a pamela anderson cup (into the June trough) and handle on the nifty five . . the handle coming off the july top . . . notice the break to new highs on a mega volume spike on 8/24, while the dow and spx made pretty big corrections off the 8/25 high the nifty five just retested the breakout and kept going sideways to up, i think this volume breakout portends to higher prices ahead and the wave count on the XCI is not valid and the count may have started at the june lows, 9/7 may have been the top of wave 3 and we may have a parabolic move up here. A lot of people got bearish last week and we have to work off that bearishness - could be 1-4 weeks, depends on what news pops up and how the market reacts to it.
bwdik |
