Dwight,
>>>> If volume stays HIGH and the DOW moves SIDEWAYS, that is another sign that we have reached the top.<<<<
For the last 4 trading days in a row, starting with FEB 3, the intraday highs for the DOW were 8163/8160/8181/8212, which is only about a 50 point spread. Also the volume for these days were strong, not extremely, but still strong.
Right now, the CALLS far out number the PUTS, so we can assume that there are that many more people who think the market will continue up.
Then why is the market not rising with conviction on a intraday basis, not closing basis. I can only assume that sellers are stepping in holding it down.
As I indicated in my INDEX UPDATE, the overall market is coming down within days and the pull-back will be larger than most expect.
Seeya |
