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Strategies & Market Trends : Classic TA Workplace
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To: bcrafty who wrote (82698)9/24/2003 4:45:42 PM
From: Shack  Read Replies (2) of 209892
 
In general I would agree with you bc. Heavy volume, high TRIN is indeed 2/3 of the recipe for a bounce. However you need to look at the TICK as well. Very interesting that all day my hourly TICK readings were above -200. That actually means this thing was being held up if you can believe it. Not even remotely resembling short-term capitulation

While it may mean a mild bounce, I am putting very little importance on the TRIN reading in light of the high TICK. This was by every measure a distribution day, not profit taking.
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