XJO 0.13% 8,255.6 s&p/asx 200

adrunis,An upbar on light volume is usually no demand - but an...

  1. 1,996 Posts.
    adrunis,

    An upbar on light volume is usually no demand - but an upbar can be a test if most the body of the bar is below the previous close - we have roughly 50/50 - so it is a bit awkward.
    Also a proper no demand is narrow spread and they work best in a down trend.
    Our immediate trend on the DJIA is up since the Aug low.
    So yes it's a bit awkward that way - so we can definitely say little professional activity - no great effort to take price higher, but no selling pressure either which has allowed it to float up.
    Seeings the immediate trend is up we would give more weight to our TEST (SOS) than our sign of potential weakness unless we start seeing a series or sequence of weak bars.
 
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