brother disco stu's shocker - tuesday, page-132

XJO put in a narrow spread high volume day not making it past 50% of the day before - so supply coming in.
The DJIA also put in a narrow spread day but on LIGHTER volume than the previous two days - ie NO DEMAND (though volume was highish). It will be interesting now to see today if our market (which has become a defacto futures for the DOW) upthrusts or puts in a no demand - using the green day last night to move it up but in reality setting themselves to go short in anticipation of a red day on the DOW tomorrow.
It all depends if Smart Money read no demand into last nights move up - or if they are happy volume was still high enough to warrant more upside.