Price Time Volume Investing

Price finally busted above the rally day six high with a strong outside day that finished at the high on Friday. Volume was off a little from Thursday but the weekly volume was well above average. Volume on the Nasdaq Composite (COMPQ) was about equal to Wednesday and Thursday’s volume. This is day 18 of the rally and the COMPQ looks very strong. Price also busted off the 50dma which is very bullish.

Chart courtesy of Stockcharts.com

The SP500 Index (SPX) is below the 1:1 angle using the slope of the May to July move. Price may be making a move to the 50/50 point on Tuesday. A move above the 1:1 line will put to market in a strong position.

Price is in strong position using the slope of the Oct07-Jul08 range with price above the 2:1 Gann angle.

The 1:2 angle off the 2002 low has held. Let’s hope that is the low off an a-b-c correction.

Note: The charts above are dynamic and will change as they are updated over time.

Recap of posts this week:

• Intel (INTC) Gann Fan From Zero
• Apple Computer (AAPL) Looks Headed for the 50/50 Point
• Intel (INTC) Gann Fan from 2000 High
• Nasdaq Still The Strongest with Lower Volume Down Day
• Microsoft (MSFT) Buyback
• Volume Off But Price At New Swing High
• Cisco (CSCO) with A-B-C Retrace at 50% Price Level
• Price Remains Below the High of Rally Day Six
• SPX Gann Fan Shows Support
• Another Low Volume Down Day for SPX
• SPX Five Year Cycle

Post Modified: August 14th, 2008 at 12:13 am

Tags:   A-B-C Correction · Elliott Wave Analysis · Gann Angle Fan · Market Outlook · Nasdaq Charts · Roadmap · Standard and Poor's 500 (S&P500) · VolumeNo Comments