Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 685.40

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Jan 21 4:00 PM EST

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To: GROUND ZERO™ who wrote (47780)	3/24/2013 10:58:55 AM
From: Harmens	1 Recommendation Read Replies (1) of 222200

GZ, Here is the Dow Johns chart for the last three months: If you look at the volume spike highlighted in red - it happened on a down day and IMHO confirmation of the top. Now we see the volumes highlighted in yellow which go down-down-down. And the last spike on Friday was on the low volume as well. Under normal circumstances, I would make a SELL call. MACD also supports this conclusion. But we have here a wild card - Feds! If you look at the previous plateau - highlighted in blue, it also had a high spike in volume highlighted in green. And it even had some downside movement and after that a reversal. So my conclusion: I would not go LONG and I'll wait for the second spike of high volume on a down day. And only when I'll go SHORT. But when again, if I play (as you do) NT - here is plenty of intermediate opportunities. About PM - I'd be afraid to go short on silver below $29/oz. Regards

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