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Newsletter / Blog


2017-04-20
Low Delta volume up wave then down into a Smart money bar


The last up wave moved only 19 points, the lowest in the last 5 up waves and the 2348 level (warned about in last few analysis done), have not been taken out by a bar close above this level. A lot of Negative delta volume (aggressive selling) on the Delta volume oscillator is shown in the last up wave (a sign of weakness and possible reversal) which led to the sharp selloff of at least 10 points in the last down wave in progress with a Smart money down bar that formed. As warned in the last few analysis, a close below 2332.25 is needed (follow through to the down side) for some more weakness to develop. Selling pressure is developing but the 2332.25 level needs to be taken out. On the last bar Positive delta volume is developing (aggressive buying) and a pull back to around 2343 is possible. Watch out for bar closes above 2343 and below 2332.25 to guide future direction of prices.

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