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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: zentrader who wrote (43816)	9/5/2009 3:32:22 PM
From: MoneyFriend_2.0	Read Replies (1) \| Respond to of 208323

Singles are a loose Market Profile term. Some people refer to it as where only one 30 min rotation has occured, but I use it on a more relative scale. It basically means the part of the volume distribution that is outside of the value areas. Value areas are defined as where roughly 70% of the volume is. The thing with singles is that is where the market has a tendency to act it's most directional. In my opinion this is because the amount of people with vested interest in those levels is much lighter than everywhere else, so it is easy for momentum to pick up when nobody is defending these levels. The action on 9/1 was a good example of singles action from an intermediate term profile. This is a chart I put together that morning right before that break down:

To: zentrader who wrote (43816)	9/5/2009 3:52:46 PM
From: MoneyFriend_2.0	Read Replies (1) \| Respond to of 208323

Now if you look at the entire distribution since March 6th. You see the POC is still down at 910, and we have a fair amount of singles to 950. 980 is significant to me because for one that is pretty much the value area low for the last 20 days, and secondly because it is the cumulative avg support since the 7/13 leg up. Unless we are clearly back above 1022 next week, I'm not ruling out a break of 980 as it is very vulnerable. Here's the distribution since the March low, truncated to show the relevant area. Blue line is 980.