Please look carefully at the chart of the DOW that I published last Saturday on my pay site. We are now, at this moment, at the upper line drawn just above 10400…
We seem to be waiting for some selling–instead we have another no-volume grind. The employment numbers will dictate the next move, but it should end up being a test of the January highs…
Fantastic stuff
Good work Scott, thanks
Whoa..nicely done
Great work! Thank you Scott!
What in the name of all that is Holy, are you talking about? Where’s the volume? You’ve presented two dimensions, price versus time, and completely discounted the remaining dimensions of the trade. If you would have accounted for trade volume, and allowed it to lengthen or shorten your X-axis, you could not have drawn lines the way you have. Think about that for a minute.
I love your input. Thanks.
But volume does not have to “lengthen or shorten your X-axis.”. Even if it did, it would still be a valid pattern. And the beauty of technical analysis is that you can look at it any way you want. It is part “art” and part “science”.
If your forecasting ability is sound by drawing a bunch of squggly lines on a chart, then so be it. That is part of why people don’t or cannot fully understand what tech analysis offers.
Open Your Mind…and stick around. You might learn something…Not that I’m perfect all the time, mind you…
is a chart
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