For hours I mixed up all of my EOD stock charts. I inverted some and the others I left right side up. I wanted to see if stocks really move differently when they move up or down. I noticed one interesting thing. Almost all successfull breakouts required heavy volume on the long side.. but this was not the case of the downside. I also realized that outside of volume differences they both have the same exact patterns. I read somewhere that people generally claim stocks go down much faster than up on a point basis.. but if you really study charts.. i cant agree with such a claim. I challenge some of you members to do an inverted chart visual analysis on EOD stock data... lets share our findings and obersvations.. might be worth something... --MIKE
I also suspect that stocks don't require volume on the downside to breakout but they do on the upside.
Right.. thats why I favor going long rather than short. The %'s are always greater and the added confirmation of going long is easier hinted by volume. --MIKE