Top chart displays weekly stops. Weekly price penetrated the lower yellow curvilinear trendline. The middle chart is busy because it transposes the weekly stops and adds in stops that hug the straight trendlines. The latter are associated with CCIs>100. TMV is currently in a consolidative price decline (3rd Red Arrow in association with an absolute CCI<100, declining volume and parrallel declining Aroon lines). The two prior declines ended just below the lower 30 day Moving Average Envelope (lower blue line). The CCI then needs to turn back up through 100 on high volume to get a buy signal. The bottom chart was just posted by Daneric. If Wave 5 is complete, then it will be a longer wait.
No comments:
Post a Comment