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!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.