Price Time Volume Investing

Price retraced 50% of the five day move today.  Volume was below average and slightly above last Wednesday.  No one likes an 8% plus move down.  But 8% ain’t what it used to be.

The number of new lows barely budged today.  This seems odd based on the magnitude of the decline.  It will be interesting to watch the next few days to see if price changes direction or the internals do.

I read a lot about the move in gold today.  I don’t see much interesting about it.  Price is in a downtrend and did not break out of any range.  Same ole same ole for gold to me.

Charts courtesy of Stockcharts.com

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• Picking Price “Targets” (September 20, 2009)
• Gold Strong And At March 2008 High (September 18, 2009)

Tags:   Gold · Market InternalsNo Comments