Forum Archive Index - March 2002

[Phaedrus <Phaedrus@techemail.com>]

Matt,
      SKC is indeed in a short-term downtrend, as well as a medium-term 
downtrend. It is making lower highs and lower lows. You do not need any 
trendlines or indicators to see this, but I have added a medium-term trendline, 
and a trend indicator, DMI. A buy signal with this indicator is given when the 
+DI crosses the -DI from below. As you can see, it is nowhere near this. In 
addition, price action is well away from the trendline.
 This downtrend is still strong. Note how for the last few weeks the volume has 
tended to be higher on down days (red bars) than on up days (green bars). There 
is more selling pressure than buying pressure. Sellers are keener than buyers, 
and stronger.
 
            Phaedrus

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