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[QUOTE=mscott;27969]Pablo, the tall bars mean the bars that touch or are above the 10-week moving average volume line.[/QUOTE]
Mike,
Good to know since sometimes there are several bars that are just under the 10 week average so bars that touch the average don't look tall.
Thanks,
Pablo
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Mike, do you have any rule about entering a position if the uptrend resumes without a FTD? Today we could since the S&P highs are a whisker away.
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[QUOTE=barbados11;28012]Mike, do you have any rule about entering a position if the uptrend resumes without a FTD? Today we could since the S&P highs are a whisker away.[/QUOTE]
IBD will sometimes turn the buy switch on without a FTD if the S&P or NASDAQ close at a new high (above 1897.28 on the S&P500). The NYSE volume by the way is running just 2% lower than Friday. If I were talking about the NASDAQ making a new high with many stocks setting up in proper bases it would be a near certainty that the buy switch would go back on. Many leading stocks have been damaged and need time to repair, so time to be cautious.
If we had a target rich environment with quality stocks breaking out and working I would consider entering some positions in advance of a FTD. I just don't see it that way right now.
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[QUOTE=mscott;28013]IBD will sometimes turn the buy switch on without a FTD if the S&P or NASDAQ close at a new high (above 1897.28 on the S&P500). The NYSE volume by the way is running just 2% lower than Friday. If I were talking about the NASDAQ making a new high with many stocks setting up in proper bases it would be a near certainty that the buy switch would go back on. Many leading stocks have been damaged and need time to repair, so time to be cautious.
If we had a target rich environment with quality stocks breaking out and working I would consider entering some positions in advance of a FTD. I just don't see it that way right now.[/QUOTE]
Thanks for your input. Sort of my thinking too.
Best,
Pablo