Tuesday, March 19, 2013
Price tried to hold the Value Area High coming out of the gate this morning. After failing there followed by some initiated selling, it tried to hang on to the Value Area Low. Once this level failed, it was all she wrote. Notice the PPS sell arrows on the Advance/Decline and Up/Down Volume. You could have traded simply off of those arrows, sneaking a couple more trades in using the PPS arrows on the TICK. There was some fast short covering later in the day when the Bollinger Bands fell inside the Keltner Channels, indicated by the squeeze indicator on TTM, where price failed to set new lows and the bears ran for cover.
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