"VSA (Vulnerable Suckers Analysis)."
Ha Ha Big D. Well done. Speaking of vulnerable suckers, I'm with Mitta on this one. We are in the sucker zone right now - right near some resistance at the top of a range on the DJIA and we don't know who the suckers are going to be yet.
But seeings the weekly is shaping up on NO DEMAND(one day to go) my suspicions is BOTH. I suspect they may stop hunt the shorts tonight before taking it down - Thats the danger with shorting right here before seeing some secondary sign of weakness (like an upthrust closing low or no demand). Even if you are right, they will hunt your stops first.
And for the long side - well, I'm not buying (long term) a no demand candle on a weekly chart thats yet to put in a higher low.
We have a test bar last night - but not a good one (volume a tad high) and we aren't really testing any recent supply.
I suspect our market may again cautiously emulate the DOW today.
spankyham's bull(dust) friday, page-20
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