Friday, October 14, 2011
Nemo's Findings for week of 10/16
Before I post more granular levels, I wanted you to take a look at these longer term SPY and IWM charts. The horizontal bars are what's known as "volume at price" bars. They indicate the volume done at a given price and how much was transacted on the bid (red) and how much was transacted on the offer (green) for whatever data is visible on the screen. Notice the shaded area above the most recent action since august. Notice how little volume was transacted in that area. That is a volume vacuum. Price entering this area could easily traverse this territory (G20 meeting anybody...) Notice how the SPY, kissed that level Friday and then backed off...Any news from the G20 that is interpreted as "good", I think we slice through this area like a hot knife through butter. Having said that: OALA EHO ATAS.
Here are your levels for next week:
Here are the links if you would like to import them:
(Participation in the room in real time requires membership)
Posted by nemo at 7:30 PM