Thu 28 Jan 2010
Well, we didn’t get much of a bounce on Monday… that doesn’t bode well for the overall direction of the markets.
I ran some quick vol-by-price charts, and thought I would share. We’ve dropped 5% back into a pretty good congestion zone. A lot of shares have traded near current prices… We could very well wobble around in this range for a while yet. (chart source)
And here’s the longer term (3 year) chart:
Looks like there is some bigger price gravity between 800-900 and back up around 1450. There are compelling arguments for going in either direction, so be careful with your commitments in one direction or the other.