weekend charting 30 july 2 october, page-42

Sircorp

Here's a look at PEN for you showing the weakness, characterized by the high volume widespread upbars where there is significant offloading going on. Everytime that has happened it has dropped further and it's just had a another bout of that, so wouldn't be going near it at the moment until the selling stops. What you want to see is the reverse at the bottom of the chart with a high volume down day finishing higher, similar to the 24 May but on much higher volume.

Mitta totally agree with your assessment of the Dow last night too, looked like a shakeout to me, I'm bullish for next week.

Cheers!