Selling Tails
FN: A negative close today would put the price below the 50 day EMA (red line). With NYA below the 20, 50 and 200 day EMAs, the markets would be vulnerable to follow thru to the downside next week.
Notice that as the sell off picked up steam, volume increased but volume actually decreased on any rally attempts. This suggests distribution, rather than accumulation.
Thursday's candle is also indicates selling pressure. The long wick is called a "selling tail". Supply came in an overwhelmed the bids, resulting in a close well off the highs.
If you look closely at the chart you can spot "selling tails" just before a trend change from up to down or actually marking the trend change.
Notice that as the sell off picked up steam, volume increased but volume actually decreased on any rally attempts. This suggests distribution, rather than accumulation.
Thursday's candle is also indicates selling pressure. The long wick is called a "selling tail". Supply came in an overwhelmed the bids, resulting in a close well off the highs.
If you look closely at the chart you can spot "selling tails" just before a trend change from up to down or actually marking the trend change.
Selling Tails
Reviewed by Information
on
05.02
Rating:
Reviewed by Information
on
05.02
Rating:
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