Its definitely showing some signs of buying on the weekly, and this must be confirmed by price moving up and then retesting on low volume to get a higher low happening. This will confirm we have us a bit of "backbone" strength to work with.
But the weakness hasn't gone away - and its pretty bad - lots of carnage and full buyers locked into losing trades who will oppose price going up as they jump ship to get out for break even or a small loss. With VSA we are not trying to pick the absolute bottom - we are looking for a "confirmed" bottom and then jump in at the "bottom" of an uptrending channel.
But if you are a longer term holder or just got in this week, then its definitely showing some sign - lets hope Fridays action was Smart money absorbing supply. Fingers crossed - because we really don't know until next episode.
