Wednesday, September 15, 2010
Time for Some Type of a Pullback
The TNA run began with a Stopping Volume bar (green oval), confimed by the green AO & rising TSI (grey rectangles). Consolidation then occured confirmed by low absolute CCI values (light blue rectangles). Then the upleg resumed with a trendline breakout on high volume (purple), followed by more consolidation. The market then signalled a Twin Peaks Sell on the AO (green dashed line), an upthrust on low volume (orange oval sucking in buyers on low volume), a CCI over 200 dropping to below 200 (green line), and a peaking of the TSI, Demarker and R squared.
1. The market just drops and doesn't rise for a while (crash).
2. The market initially consolidates and thens drops without a rise (crash). Consolidation can be monitored by price action, MA lines with intertwining with alternating little red & green arrows, absolute CCI values less than 100, tiny AO & KH teeth size, flat TSI & Demarker lines and a CSI going nowhere.
3. The market consolidates as part of a continuation pattern just like the prior two consolidation patterns pictured in light blue rectangular boxes. Then TNA resumes its rise.
4. TZA just goes up without any significant consolidation and then reverses with a subsequuent TNA rise.
Leaning towards 3 or 4.
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