In our April 4 blog post we noted the extreme negative breadth readings and gave the opinion that at least the S&P and/or Dow would trade to new highs before anything substantial occurred to the downside. Following today’s late low volume ramp, the Dow and S&P are just below their recent highs with the Russell 2000 and Nasdaq 1000 lagging behind. If the Dow and/or the S&P trade to a new high tomorrow and the Russell and/or Naz cannot trade above their recent HVN (High Volume Node) it may be the immediate precursor signal to a sharp reversal.
Auction Market / Market Profile Analysis: US Stock Indices for Tuesday, 4/9/13
by Tom Alexander | Apr 8, 2013 | Public Post | 0 comments