MC’s Friday night DOW review
Posted by MC on Apr 12, 2008
Hrmmm…thoughts? I don’t like that volume at resistance at all. Tell us what you think in the forums. 
I’d much rather have seen low volume on a failure to breakout, seems like possible distribution to me.
I might say that was decent volume, so all effort with no result.
Now the TRIN did close well above 2.0 so the odds of an up day Monday is very high. If we fail to break up we could be in for some hurt and blood.
This chart shows some volume stepping in at a trendline based on the weekly as well as a complete gap fill from back on 3/31. We now have the open gap above formed from todays opening gap down.
I have a bullish bias for the DOW on Monday. It should be interesting, then again what day in the market isn’t interesting? 
