The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: ivan solotaroff who wrote (17573)	5/26/1998 9:31:00 AM
From: Dave H	Read Replies (1) of 79460

Ivan, The last three weeks the market has kept up price-wise but on lower volume, especially on the "up" days (for example, the recent new intraday high & the recent new closing high days). Usually you want to see strong volume on "up" days. Down days can go either way, though definitely strong volume on down days is a bigger sign of weakness. We've had pretty weak volume since the beginning of may. After such a large runup, it seems as though the drop in volume is indicating a drying up of buyers, not sellers. But this of course needs to be used along with lots of other indicators and not just buy itself. ABAX -- So far it looks like a MIM to me. Only question I have is whether or not the line you draw to determine the BO is allowed to be broken by anything prior to the MIM; if so, I think this one might not qualify. Maybe Doug can give us a ruling... -dave

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