Four out of the six sets of single prints from yesterday were filled before sellers got a bit ahead of themselves. Buyers aiming for today's excess, targeting the resistance area. Sellers aiming for the poor low.
Hi Smash. Could you explain "Today’s session . . . and held the halfback, which we carry forward as both poor and weak. I don't understand how a halfback could be poor as, by definition, there is volume above and below it. I guess it could be weak if the prior day had the same halfback, but it doesn't, and I've never heard of such an application of "weak". So, I'm a bit confused. But at least I'm showing that I am carefully reading your writeup :)
I was referring to the halfback from the session on June 27th. Yesterday, the market saw a bounce from that specific area, which makes it weak, and the lack of excess makes it structurally poor.
OK, so the LOW is both poor and weak, and the weak is in relation to the prior day half back. I read it that it was sayin that the [current day] halfback itself was weak. Thank you, Gamma, for clarifying that for me.
Very interesting how much passive buying was there just above 4400. Sellers tried to break that so many times, and it was absorbed every single time.
We've seen the classic picture of a state of balance. "the top of the balance acts as resistance until it is proven false."
Hi Smash. Could you explain "Today’s session . . . and held the halfback, which we carry forward as both poor and weak. I don't understand how a halfback could be poor as, by definition, there is volume above and below it. I guess it could be weak if the prior day had the same halfback, but it doesn't, and I've never heard of such an application of "weak". So, I'm a bit confused. But at least I'm showing that I am carefully reading your writeup :)
I was referring to the halfback from the session on June 27th. Yesterday, the market saw a bounce from that specific area, which makes it weak, and the lack of excess makes it structurally poor.
OK, so the LOW is both poor and weak, and the weak is in relation to the prior day half back. I read it that it was sayin that the [current day] halfback itself was weak. Thank you, Gamma, for clarifying that for me.
Amazing work as always - thank you sir!!