xjo weekend zoomba lounge, page-59

Hi Funky and others. As a fellow VSA enthusiast also, we are tought to be careful of high volume up bars, yes. However, we do also have to look at the overall picture as it unfolds bar by bar. The good days we have had recently on the indices, with volume, have come with more of a VSA termed "strength" in the background, rather than weakness. The market has been in correction for a while, off its highs, with many large downbars behind us where SM tend to buy. If these high volume up bars were coming after a sustained rally, then yes, at the top, I would be running for the hills. However, we are at a low, with markets, particularly in Aus, being in sideways pattern, classic accummulation maybe? It appears that we have been waiting for a reason to push higher, rather than a perceived opportunity for additional distribution? Since the GFC lows, our market has recovered a disappointing 33% verses the DOW a whopping 93%. We should be outperforming their markets given our economic position. When a market is to correct and move through resistance levels, it needs to do so with effort. That is exactly what transpired with the recent volume push, effort! So, I tend to support RB's view that we may have a move higher on the cards. However, always interested in the contrarian argument and be interested in other views. Cheers and have a good weekend.