At 72 , UA came out of accumulation, commencing the markup stage. Massive vol came in at 72 not sure what that means, but after the UT w/ large volume the market tested right at the base of the UT, move sideways and preceded higher so for now that is resolved.
On 4/21 massive volume came in on the downside after a hypodermic the previous day. UA slid right down rapidly to high off massive volume day in background, most likely this acted as support. From there it went into a sideways, narrow trading range for one month and on 06-05 the sign of strength occured telling everyone Demand has overcome supply.
Now the market glides up on narrowish spreads. No LPSY has occurred yet, so there is no buying opportunity in this markup. When it does occur, then consider buying.
I expect market to reach new highs. We are in an uptrend until proven otherwise by distribution days.
Concerns: Hypodermic day followed by immense volume on the downside on 4/21. This could cause serious resistance at 85.85, so expect a reaction from there and see how it tests to consider buying
On 4/21 massive volume came in on the downside after a hypodermic the previous day. UA slid right down rapidly to high off massive volume day in background, most likely this acted as support. From there it went into a sideways, narrow trading range for one month and on 06-05 the sign of strength occured telling everyone Demand has overcome supply.
Now the market glides up on narrowish spreads. No LPSY has occurred yet, so there is no buying opportunity in this markup. When it does occur, then consider buying.
I expect market to reach new highs. We are in an uptrend until proven otherwise by distribution days.
Concerns: Hypodermic day followed by immense volume on the downside on 4/21. This could cause serious resistance at 85.85, so expect a reaction from there and see how it tests to consider buying