Sorry Mudguts I only just saw your post regarding the DOW. I follow the DOW pretty closely for the DJPIN tipping contest on the "other markets" thread. It is at an interesting point and I am waiting to see what happens tonight to see if it is ready to break out to new highs or it if in a distribution phase. I dont agree with your high volume bar as being that important as it was not excessively high volume and that is why I am looking for a break upwards.
With the PEN chart, I dont believe anything is confirmed yet but the low volume tests of 2.5 were to be expected to test for any latent supply at these lows. A total of 7650 shares were "sacrificed" at 2.5 on Friday to test the supply! So we have to see what becomes of this second test of the low. Many would consider it a low risk entry point with a minimal downside and good upside potential. We will have to wait and see.
PEN Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
