Shack...
Out of the last 14 sessions on the compx, 4 sessions have closed lower on higher volume than the previous session...that's distribution I think, and a real warning signal... not to mention the 5 ema has crossed the 21 ema convincingly to the downside. This has been a very reliable indicator over the last year or so...
stockcharts.com[h,a]daclyymy[db][pc5!c21!f][vc60][iUb14!La12,26,9!Lf!Lh5,5!Li5,5!Lg!Lc20]
Even IBD, who i think is foolishly calling this a new bull market, heeds these distribution signals, and recommends protecting profits during these distribution time periods.
ameritraders are big buyers on down days of increased vol. like yesterday
I'm sure there will be bounces at weekly and daily stick highs, and gap support...in that order...
but distribution happens on the way down.
btw, congrats on the success of the thread, you got a good thing going here.
Have a good one,
jm |
