Dow Downwave.

Posted on Mar 20, 2010 by in Letters, Uncategorized

As we were saying in our last letter, time for a downwave.  but what is it about this chart that draws the eye?

The volume is climactic.  Like an exclamation point.  That's it folks!!.

Smart (and impatient and restless) technicians and traders have been talking for a week or so about selling new highs, and they did so Friday.  That and profit taking after 8 days up (an almost certain play for a downside bet) combined to produce the volume bar.

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