3rd lower high being made, forming trendline....it could break above, but we have parameters for trade.The stock market has had a nice run the Dow is up 5.2% and 600 points in just the last 7 trading days! but the avg up volume has ONLY been 63% over this time and by other measures this is a very suspect rally from a technical standpoint....SO FAR there has been good point gains but the up volume has yet to crack 90% and only once 80% during this time....it had been preceded by 2 90% down volume days and expansion of volume during the selloff.
SLuggish demand seems to be meeting distribution.....and IMHO we are RIPE to resume downtrend in the ST UNLESS we get significant surge in buying demand.
D
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