It’s heavy buying accumulation on the heels of heavy selling distribution. (If you don’t know what this means read “How To Make Money In Stocks” by William O’Neil.)
But there’s no doubt what our underlying bias is, we’re giving the edge to the bulls.
Last week’s Follow Through Day (FTD) is just a small technical indicator telling us that institutions may be placing bets to the long side of the market.
All we need now is Leadership and technical bases to form…