A Downturn Looks Imminent

The first chart below is an Arms CandleVolume chart. This, the newest and I think most exciting development in charting methods since Equivolume, was recently invented by and introduced by me last month at the annual gathering of the International Federation of Technical Analysts in San Francisco. It combines the attributes of Equivolume and candlesticks in a single, understandable entry. You will be seeing more of these, courtesy of StockCharts.com. 

It appears, on this chart, that Monday's trading not only got nowhere but did so with an extremely narrow trading range, indicating upside resistance. The two interior horizontal lines in each box represent the open and the close for the day. If it is colored red, the average closed lower than it opened. If the two horizontals are close together, the average was having difficulty moving, as was the case on Monday....281 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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