Tuesday, February 9, 2010
Buy signals - update
Well, here it is Tuesday night, and so far Friday's low (the low of the climax low signal in the Dow) has not been breached.
Monday the markets sold off, but on greatly reduced volume. Then today they were up, on an increase in volume from the previous session.
This behavior shows a net accumulation. I could see it backing and filling for a while, possibly re-testing Fridays low, possibly even breaching it intraday, but that should be about the worst of it.
For the time being we're sticking with our pronouncement in the last post, i.e., Friday's low will mark the low of the correction.
Monday the markets sold off, but on greatly reduced volume. Then today they were up, on an increase in volume from the previous session.
This behavior shows a net accumulation. I could see it backing and filling for a while, possibly re-testing Fridays low, possibly even breaching it intraday, but that should be about the worst of it.
For the time being we're sticking with our pronouncement in the last post, i.e., Friday's low will mark the low of the correction.
// posted by gigascanner @ 9:04 PM 
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