swing traders obversation, page-5

MarkieMills - the SP started the downward trend on 30/8/12 on vol of 15.7m ( start of trading after the halt ) and again on 21/9 on vol of 29.4m. The 65 vol MA is 5.6m. Vol on Fri was 5m with ave sp of .22 ( 3.6m traded at .22 ). Fri finished the day on a Doji which shows indecision between buyers and sellers after 8 days of selling; with a higher close than Thurs. SP is now above the lower Bollinger Bands, MACD is closed and RSI shows a trend change. These indicators support the BHx. It would surprise me that the SP would trade at .20; however the market decides what direction it will take. That is why confirmation is necessary before taking a position. All will be revealed on Mon. Happy trading.