South-Bound Train

-520,000 shares in the Advancing/Declining Volume Line (esignal $VOLD). Do not look for a bottom to go against.

Big news today that sent the right in fits of a rage: the ban on hand guns has been lifted and the ruling against the Death Penalty for child rapists by the Supreme Court.

This is their lobby.

That's a big number ..I'll settle to see what happens when/if we retest that 1297.50 - 1300 number..big volume there and single prints above so I'm trying for that......When a minus 8 - 10 point number fails then I like to see what happens down into a minus 15 - 16 area...then I'll watch at the minus 20 - 22 area....Of course once we are outside the first 90 minutes for me then fades become harder as they have already tested many key areas and the odds of some kind of trend increases...even on if it's only on a brief intraday basis..thanks for that

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Originally posted by BruceM

That's a big number ..I'll settle to see what happens when/if we retest that 1297.50 - 1300 number..big volume there and single prints above so I'm trying for that......When a minus 8 - 10 point number fails then I like to see what happens down into a minus 15 - 16 area...then I'll watch at the minus 20 - 22 area....Of course once we are outside the first 90 minutes for me then fades become harder as they have already tested many key areas and the odds of some kind of trend increases...even on if it's only on a brief intraday basis..thanks for that

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I was about to jump on that bottom breakout to the upside and then saw once it started volume increased to the downside more than I've seen in a long time. It was a bottom with divergence, too. The A/D/V Line is -620,000 now.

in the world of the VOLD what would be considered exhaustion on the downside? In my world we had a big volume flush to the downside which was erased quickly in all markets which is telling me that the new lows aren't attracting sellers....But this is a market that has some upside conflict as we just made a second test into the 1297 number and we can't get anything going on the upside..still a nice push off the minus 16 area...I would think that the upside needs to travel into the 1302 area but the real resistance from a volume standpoint is up in the 1307...lets see which volume magnets they want for the remainder of the day

quote:

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Originally posted by BruceM

in the world of the VOLD what would be considered exhaustion on the downside? In my world we had a big volume flush to the downside which was erased quickly in all markets which is telling me that the new lows aren't attracting sellers....But this is a market that has some upside conflict as we just made a second test into the 1297 number and we can't get anything going on the upside..still a nice push off the minus 16 area...I would think that the upside needs to travel into the 1302 area but the real resistance from a volume standpoint is up in the 1307...lets see which volume magnets they want for the remainder of the day

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Volume reading in VOLD is a tricky thing, and I'm realtively new in it. I've seen complete reversals at as little as 300,000 and as much as 1.4 million. If it isn't going with price, though..that's the key.

It's with price at 3/4 mil. after the 2nd 1297 rejection. I'm not a MP player yet and I can't trust nearly any of my indicators today. I hope you're doing better than I.