Friday, January 8, 2010
Neutral,Slightly Bullish
One trend I am noticing is that the highest volume traded at one price(high volume bar) is higher everyday. Which tells me that a top is nearing because the longs are getting in on the rally and not on the break. That means any pullback may not have buyers because the buyers are rushing in. It also means that if the trend is broken, we might have a bigger correction than most people think. A change in this uptrend is crucial to this markets psychology. It seems that everyone riding this trend is riding it until it breaks. Support is 112275 and resistance is 114500.
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