An “Inside Day” ( thank you Investopedia ) – Is a trading day wherein the entire day’s price range for a given security, falls within the price range of the previous day. An “Inside Day” can be very useful for spotting changes in the direction of a trend.
An inside day is often used to signal indecision because neither the bulls nor the bears are able to send the price beyond the range of the previous day. If an inside day is found at the end of a prolonged downtrend and is located near a level of support, it can be used to signal a bullish shift in trend. Conversely, an inside day found near the end of a prolonged uptrend may suggest that the rally is getting exhausted and is likely to reverse.
Ill be looking for this kind of thing tomorrow ( actually I was thinking moreso today but….. ) as the selling pressure appears to have petered out. I think it’s pretty safe to say – the last of those bulls still clinging to their shares, will have most likely thrown in the towel here today – as seen by action in Apple (APPL) and tech in general.
“Capitulation” as we’ve come to know it in the trading world.
The “big boys” will most certainly be buying…as most of you (if not already) – panic, and readily hand over your shares…. at significantly reduced prices.
Kong stands strong……..kong…long.