High prices

         Use the high prices question to determine how various high price levels relate to other key market price levels.

Example:

         Today’s high is below yesterday’s longest TPO line. (Today’s high fails to violate yesterday’s high volume print.)

Questions from Traders:

         How does the market trade when prices cannot penetrate the previous day’s high volume print? Is there follow-through the next day? How does this affect where the market closes today?

Setting Up the Search:

Click on the parts of the box below where appears for explanations of features.

Answers:

         The search shown above was for days in which the highest price was below the previous day’s value area . By refining the original search with a search which checked for days in which the market closed below the current day’s high volume price, we found that almost 53% of the time the market closed below the current day’s longest TPO price. This suggests that a sale made versus yesterday’s high volume price is a coin-toss.