Chart Update, page-2995

So I make that about two million shorts less than on the Feb 16?

On that day we saw volume of 8,778,635 and I guess some of that was repeat trade on shorted shares as traders tried to balance their positions?

And FWIW in the spoiler a daily price and volume chart since the results;

Spoiler : See here

Spoiler : Bonus Additional Free Musings for those naive to trading ..

Also FWIW (ie others should pay it little heed unless it turns out to be retrospectively right) ..
…I think the fall at NWH today - which is more significant than at MLD or MND is not so much about Ukraine anxiety as a result of NRW running to the front of the upwardly mobile technical horse race recently and so getting blown.
This is NOT because it has no endurance, (it DOES!) but because the market likes to whip horses like NWH around the course at its’ own speed regardless of the fundamental rights and wrongs of this.…..

Actually anyone new around here can pay heed to that bit
A) because it is obvious
and
B) it was already said in other words by a technical trading guru called Richard Wyckoff more than a hundred years back.


— This very cool player had all the market horses being ridden by the same jockey whom he called the “Composite Man”.
(I have dressed The CM in multicoloured, diamond-patterned silks and given him a narrow moustache which he thinks is debonair, but naive traders think it looks the same as that on the evil villain in Perils of Pauline or some other melodrama.

Wyckoff was a trader of repute and you can see [here] to read a bit more on his famous Method
But here’s the bit about the jockey;
“Wyckoff proposed a heuristic device to help understand price movements in individual stocks and the market as a whole, which he dubbed the “Composite Man.”
“…all the fluctuations in the market and in all the various stocks should be studied as if they were the result of one man’s operations.
Let us call him the Composite Man, who, in theory, sits behind the scenes and manipulates the stocks to your disadvantage if you do not understand the game as he plays it; and to your great profit if you do understand it.” (The Richard D. Wyckoff Course in Stock Market Science and Technique, section 9, p. 1-2)

Anyway that link is worth reading for those who have not.

And luckily for NRW aficionados, giving the low down on that composite jockey, we have a special (patient) composite jockey psychoanalyst here — in the form of ‘The Navigator’ who has patiently drawn accurate pictures of the Composite Jockey’s ways, whims and wardrobe over the last few years and is mostly spot on!

As an example let me remind you of his last chart which might be considered in the light of the Wyckoff diagram
below ;
(Sorry @Saragian if this logic is completely skewhiff but we all take our own meanings from stuff and this is just how it looks to me)


So after that chart was published NWH hit a yearly high of $2.28 before its’ sides started to heave and it lost impetus.….….
Exactly as Wyckoff Price Cyclians expected!

Where will it be marked down to?
A clue might be in the Saragian chart and I might keep my buy sentiment going and watch that all important close.

Here’s the Wyckoff link again ;
https://school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method

cheers