8529 A 8526 A 8523 A 8520 A 8517 A 8514 A 8511 A 8508 AB 8505 AB 8502 AB 8499 AB 8496 AB 8493 B 8490 B 8487 B 8484 B 8481 BM 8478 BM 8475 BM 8472 BM 8469 BM 8466 BM 8463 BM 8460 BM 8457 BCLM 8454 BCLM 8451 BCLM 8448 BCLM 8445 BCLM 8442 CFLM 8439 CEFLM 8436 CEFLM 8433 CDEFKLM 8430 CDEFKLM 8427 DEFGKLM 8424 DEFGKLM 8421 DEFGKM 8418 DGKM 8415 DGIJKM 8412 GIJKM 8409 GIJK 8406 GIJK 8403 GIJK 8400 GIJK 8397 GIJK 8394 GIJK 8391 GHIJ 8388 GHIJ 8385 HIJ 8382 HI 8379 HI 8376 HI 8373 HI 8370 HI 8367 HI 8364 H I start with A as the first session on market hours, I don't know if that's correct or not, and use 3 point ticks on the DJX. Seems to me like the longer term seller had activity in two areas, responsive selling on the extreme, and he initiated selling in the range extension. The longer term buyer had activity in one area, reponsive buying in the value area. Is this correct, wrong, completly weird? Is this chart bullish or bearish? In my opinion it's bullish, because the seller seemed to exhaust himself, and the buyer changed the direction. This coupled with the hammer on the daily makes me feel like Tuesday will be an up day.
1) You must include yesterday's profile along with that day in order to better judge what constitutes initiating and responsive activity. 2) Knowing where previous daily highs, daily lows and value areas are also helps to gauge momentum expectations.