Ep. 201: Joe Fahmy: Tight Is Right
Investing With IBD
The Tight Price Action on the Weekly Charts
On the S&P 500 you started to see a little bit of tightness where prices were starting to close around the same range over over a few weeks. That was by doing that simple analysis on the weekly charts that was a sign that there was potential accumulation and to sort of wake up a little bit to the possibility of a new uptrend coming. So from studying history, I have found that tight price action is to be interpreted as the institution's accumulating beneath the surface.
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