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Gold/Mining/Energy : Gold and Silver Miners and the U.S Markets.
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To: Robov who wrote (1738)4/4/2014 3:41:56 PM
From: The1Stockman  Read Replies (1) of 1954
 
Yes, I called it a consolidation pattern.

My definition was, ... Its when we have low volume on the days we print a black bar is what concerned me, .. especially after its gaped up and it closes lower than the open, printing a red bar at the end, especially if it engulfs most of the weeks action.

Its telling be that the bullish rally that began at the open fizzled out, the lack of volume in my opinion in a situation like we are having today, (a gap - a high - and back to red), ... is not a dependable sign of future gains, regardless of the volume.

If we were to gap down and move higher on below average volume and close in the green, ... would also tell me that we are not ready to move higher.

I guess all we can do is watch and see how things close today, and if folks are willing to stay in over the weekend.

If we see selling near the close, then I would expect weakness in Mondays open, ... unless events over the weekend take precedence.
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