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The Bombay Sensex-30 index was the only one in the red today amongst all major Asian indices:
The 5-day chart shows two occurences of a gap up followed by a steady decline through the day:
Classic signs of distribution?
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August 23rd, 2007 at 10:03 pm
Your articles are quite good.
NSE managed to stay above 200 DMA - positive.However the red days showing huge volume for past several days.Daily fluctuation is very high indicating mkt still under distribution.There seems lot of resistance beyond 4260.
We need some more correction and quite days to shake out and wear out weak hearts !! Anyway our ‘patriots’ will make it happen soon !