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Niko's avatar

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.

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domtology's avatar

We've seen the classic picture of a state of balance. "the top of the balance acts as resistance until it is proven false."

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Cotton Dog's avatar

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 :)

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Smashelito's avatar

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.

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Jun 29, 2023
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Cotton Dog's avatar

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.

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Steve Saint's avatar

Amazing work as always - thank you sir!!

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