Libbyt,
I think it's time to take some profits off the table on EGHT. My indicators are "SCREAMING" pull back time. If you don't feel comfortable selling all of your position, it would be prudent to sell part of it at this time, based on what the indicators are saying.
The accompanying chart will show several windows with two sets of Bollinger Bands in each window. The BB's are based on time segmented volume patterns, not price. All of the indicators are above the upper series of BB's and this usually indicates it's time to see a correction.
By monitoring volume as opposed to price, the indicators are suggesting most of those who wanted to buy, have. As volume starts to drop, the price should too. The volume patterns are out of the norm to the upside and suggest it won't continue without a correction.
Just passing it along for what it's worth.
ttrader.com
Most indicators lag behind price. The average chart won't confirm what my chart is showing above. I think volume indicators are leading indicators when analyzed properly. I may be wrong this time but, we have seen several gaps up in price on huge volume. I think today's gap may have been an exhaustion gap which will cause the price to correct.
The only standard indicator, other than volume, that can help me explain my case is the Stochastic indicator. Notice how it isn't confirming the higher prices by rising along with price. It is moving sideways.
I think by late tomorrow afternoon we will have our confirmation, one way or the other.
stockcharts.com[h,a]daclyiay[pb50!b200!f][vc60][iut!Lp20,10,5]&pref=G
dabum |
