by L.A. Little
Primitive man made binary decisions. Hungry? Eat. Fearful? Run. Tired? Rest. Modern traders exhibit the same binary decision making. Buy or sell. Fear or greed. Win or lose.
A look at the charts over the past couple years exhibits the same binary decision making. Up or down.
The classic technical analysis read of such action is that of either consolidation or distribution. The former is a good things for those with long inventory. The latter bad. But which is it?