I was looking at a chart of the Diamonds. The Diamonds are usually not traded by retail investors. The people who trade the Diamonds are institutions.
I noticed that there were two unusually high volume levels since the inception of the Diamonds. The highest volume was in the 3-4Q of 2002 which indicates that larger investors knew that this was truly a bottom.
Recently, the volume hit a record on the Diamonds in June and that month was a down month. In the past 10 years, when there has been a dark candlestick after a rise the potential for the Diamonds to correct down to the second moving average on my chart (or further) is high. Actually there is a 100% chance statistically if you use the past 10 years of trading as a guide.
So does the record volume on the Diamonds in June indicate a top? Who was dumping the Diamonds in June and why?
I noticed that there were two unusually high volume levels since the inception of the Diamonds. The highest volume was in the 3-4Q of 2002 which indicates that larger investors knew that this was truly a bottom.
Recently, the volume hit a record on the Diamonds in June and that month was a down month. In the past 10 years, when there has been a dark candlestick after a rise the potential for the Diamonds to correct down to the second moving average on my chart (or further) is high. Actually there is a 100% chance statistically if you use the past 10 years of trading as a guide.
So does the record volume on the Diamonds in June indicate a top? Who was dumping the Diamonds in June and why?