Tuesday, February 23, 2010
Light Volume is coming--be careful bears
Volume has dropped of dramatically. This is a 10-min. chart of the XLF, we have a bear flag in play but will light volume allow us to play it to the downside? $14.55 is the line in the sand. If we break above it on the 10-min. the bear flag is negated. I have a stop at $14.62.
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The pattern is playing out as volume is starting to pick up. My target is 200-MA on the 10 min.
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