Saturday, December 27, 2008

Comparing the Market Actiion of 12/23/08 to That of 12/26/08

On 12/23/08, the market was testing the bottom of an area of volume resistance. With the $TICK moving averages on the 5-minute chart below zero, indicating a weak market, the probability was high that the market would bounce to the down side after the test of resistance.

In contrast, the market on 12/26/08 was testing the top of an area of volume support. With the $TICK moving averages above zero, the probability was high that the market would bounce to the upside.

On 12/23/08, the Advance - Decline Line for all US Stocks obviously showed that the market was weak on every test of areas of resistance.

On 12/26/08 on tests of morning resistance areas, the market was not showing that same degree of weakness. After 1400 ET, the market was starting to show signs of strength.



  1. Hey Charles,

    I recently found your site a few weeks back! I've been reading it on a regular basis.I recently started using TS and I am not much of a coder and see that you are using a lot of good indicators. Do you by any chance have any of these listed on the TS EasyLanguage Forum? Thanks- suchen

  2. Hi Suchen,

    I do not have any of the indicators shown on this blog listed on the TS forum. I have and do share the codes on this blog. If you need the eld file for installation, email me the request.