See my post yesterday…
On the 7th Day will God Create a Follow Through Day or Rest?
Many charts look similar. I cannot stress how important it is for a follow through day to formulate after the March 13th low. We are simply trading sideways. The longer it takes to bounce or rally, the larger the invite for more selling.
Missing ingredient. 4pm = Volume
SPY
Today 48m (87%)
Daily AVG 55m
QQQ
Today 31m (86%)
Daily AVG 36m
IWM
Today 25m (92%)
Daily AVG 27m
Volume Increase: The day’s trading volume must be higher than the previous day’s. Ideally, it should be above the average daily volume, showing that big, institutional buyers are driving the price move. This heavy trading from major players is a key sign of a reliable follow-through day, as it indicates strong demand pushing the market higher.
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