Quote from easyrider:
* * * Volume warns me when a trend is most likely coming to an end but as of yet I havent been able to read the data well enough to reverse with any confidence. I am hoping this thread will add to my education. [/B]
I always know where I operate. 81 bars comprise the day's terrain for me. Usually I trek only a portion of the trails available. There are always more trails than I can do it seems.
Where I operate is merely a part of a larger design of things. There are smaller parts too, of course. The designer must have used the same blueprint. There is a consistency through all the parts. Knowing how the parts fit makes everything slow motion. It also makes superfluous all forms of predicting. Few things in life are easier.
Let's get down to the nitty-gritty. Monitoring is done in the NOW, as Jack says over and over. For today and tomorrow, the trails are closed to me, so let's just consider the fractal in the chart you posted. I like to look at the cash equivalents; it is a weekend thing for me. Yesterday I looked and I had to go back to the last day of last year to get the answer I wanted. The question is obvious, but neither the question nor the answer is critical. It was a curiosity that followed from knowing the current state of the market, which is something you don't yet grasp because you keep talking direction.
Think of Jack's three questions that are important.
1) Where is the market now?
2) How fast is it moving?
3) What's coming up next?
I'll give the answer to one of the questions with regard to the fractal on your chart: VDU.
What is the possibility that follows? If you are still thinking direction you need to give yourself a kick in the ass.