[isatrader]

Hmmm... ok, thanks for the clarification. I got a little excited there lol.

So, how would you interpret this large pullback on increasing volume? I'm thinking we would still call this a Stage 2A but I guess maybe there's actually a higher percentage now of actually breaking support since the volume is so heavy?

Thoughts?

It's definitely in Stage 2A and the sector has been recovering, and it had good volume on the breakout, but it was the weakest in it's sector last week, and increasing volume on the pullback is not what you want to see for the method, so keep it on your watchlist and see how if reacts around the breakout zone, as Weinstein's suggests that you should look for it to stabilize near the breakout level before getting in. So a strong down candle like last week that closed near the lows on heavy volume doesn't suggest stabilization currently. But it could change in the coming weeks, but also look at the other stocks in the sector as well, to see whats happening with them, as remember its a top down method where you look at the market, then the sector and then finally the individual stocks.