To confirm that last Thursday was a SOS and Friday’s action was it backing up to the creek i.e. LPS, we need for today to close out as a bullish bar
Need at least 20M+ in volume and a slightly wider spread than that of Fridays and closing highish
...............
Jump across the Creek (JAC)
is a continuation of the creek analogy of jumping resistance and is a good sign if done on good spread and volume – a sign of strength (SOS)
Sign of Strength (SOS)…an advance on good (increasing) spread and volume..Thursday?
Back up (BU) to a Last Point of Support (LPS) – a pull back to support (that was resistance) on diminished spread and volume Friday? after a SOS. This is good place to initiate long positions or to add to profitable ones.
Note:
A series of SOS’s and LPS’s is good evidence that a bottom is in place and Price Markup has begun.we may be looking at our first
DYOR
was that a sos week ta @ $1.27
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3 | 12113 | 6.770 |
2 | 25312 | 6.760 |
2 | 12498 | 6.750 |
Price($) | Vol. | No. |
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6.800 | 9043 | 4 |
6.820 | 20113 | 5 |
6.830 | 8832 | 1 |
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