“No Supply”.
As the name signifies this bar indicates absence of supply and indicates strength.
The No Supply bar is a narrow range low volume down bar closing in the lower half. The No Supply bars are found in the early Bottom reversals and indicate strength. It is also common to find these bars in an up trend which are indications of continuation of the trend. They would also be found on consolidation bases.
A No Supply indication has to be read in context with background. At bottom reversal areas they indicate there is no supply available. Then the SM gets ready for mark up. Hence they indicate strength especially if they appear before/after test bars.
During up moves a No supply could indicate non participation from SM. IMHO this is one of the difficult indication to interpret.
3 comments:
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