Daily back to 2011 Volume Distribution SPDR: 140 in November?
Longer-term, a .618 correction to Major Volume Support as shown by the Volume histogram in the selected data series (gold background and histogram on left) to the 139.50 level. ( THis is also a .382 correction using Weekly chart but hard to see, the light green line stretching out to left at same 137-9 level to left of chart).
Before that low is the 165-168 level, a definite but lesser histogram bulge.
We'll see, but at some point there will be correction (probably in Aug-September seasonally speaking) and then these levels will come into play. Probably it will stop around 176 this time, then try to make new highs, form a Head & Shoulders (which means a failure to make a new higher high) and then it will go down to between 155 and 140 in Sept-November using the Volume Indicator to identify these levels (and as shown lso by white dotted ray horizontal lines).
Let's see what happens!
Before that low is the 165-168 level, a definite but lesser histogram bulge.
We'll see, but at some point there will be correction (probably in Aug-September seasonally speaking) and then these levels will come into play. Probably it will stop around 176 this time, then try to make new highs, form a Head & Shoulders (which means a failure to make a new higher high) and then it will go down to between 155 and 140 in Sept-November using the Volume Indicator to identify these levels (and as shown lso by white dotted ray horizontal lines).
Let's see what happens!
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