Here's a perfect example of how 3C works-(see the bottom of this post for more info on how to get this indicator)
At point (A), we have price making lower lows on 10/28. Notice the orange 3C indicator making higher lows, this is indicative of accumulation (buyers stepping in and a probable change in the direction of the stock). Note at point (B) we have price making higher highs, but the indicator is making lower highs-this is indicative of distribution (sellers) and typically precedes a reversal to the downside. We don't know what they know, but we can see what they are doing with a little help from 3C.
Friday, October 31, 2008
XLF? Are You There?
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