Not much can be said for our travels this week. Another flat week on lower than normal weekly volume.Up vs down volume has declined to a flat [again!] 1.0. This is text-book typical of the "handle" part of the pattern; the downward price drift is a shakeout of sorts. Note this week, the price dropped below the low point in the handle made last week. It may occur once again next week. No one can say for sure.
Next week will usher in a third week of the handle.This may go one for two or more weeks, It takes time to unfold and is doing just what it should.
The one give-away in price action [either up of down] will come when volume begins to expand. If it happens on a day when there is little or no INcrease in price action, look to see the high and the low and where the stock closed.
Did it rally and then sell off, giving all [or more] of its gain back? That's a big negative. On the other hand, does it rise to a high point during the day and keep much [or all] of the gain on higher volume? if it does, that indicates volume is beginning to come in from big holders. It's not long after that point that the stock will make its move...one way or the other.
Have a wonderful and safe Labor Day everyone.
P.S. Please tell Yahoo how much you dislike the current set up for the boards, please!? I have told them in no uncertain terms, but more voices need to be heard, opinions need to be expressed.
I appreciate their need to upgrade, but this is NOT an UPgrade...it s DEgrade for me and my eyes.